ADIB-Egypt sees changes in shareholding structure

ADIB-Egypt sees changes in shareholding structure

ArabFinance: Abu Dhabi Islamic Bank- Egypt (ADIB) stated that Abu Dhabi-based company Awsar exited the bank by selling its 0.58% stake, according to the bank's September 27th statement filed to the Egyptian Exchange.Awsar sold 1,142,585 shares at EGP 10.80 per each, with a total amount of EGP 12,342,866.The bank posted a consolidated net profit stood at EGP 530.573 million in the first half (H1) of 2020, a 19% decline from EGP 658.558 million achieved in H1 2019.Standalone net profit reached EGP 509.582 million in H1, a 15% decline from EGP 601.213 million posted in H1 of 2019.ADIB, formerly National Bank for Development, is an Egypt-based public shareholding company engaged in the provision of retail, corporate and investment banking services through a network of 69 branches located across Egypt.Copyright © 2020