ADIB eyeing bigger market share
Abu Dhabi Islamic Bank (ADIB) is seeking to gain a significant market share by extending its Islamic banking and financial services to expatriates and non-Muslim customers, while remaining loyal to the core UAE National customer base Gulf News has reported. “Our non-Muslim customer base is rapidly expanding. It used to be 80% UAE nationals and 20% expatriates,” said head of retail banking at ADIB, Philip King. “The new trend we see is that the flow of new business is about 60% nationals and 40% expatriates with a significant share of that business coming from non-Muslim expatriates,” he said. ADIB Group reported a 20.7% increase in net profit to Dhs1.45bn, as total assets grew 19.8%.