EIIC buys 7.6 per cent stake in ADIB – Gulf Today

EIIC buys 7.6 per cent stake in ADIB – Gulf Today

This transaction brings EIIC’s total shareholding in ADIB to 47 per cent.

Emirates International Investment Company (EIIC), the strategic investment arm of National Holding, on Friday acquired a 7.6 per cent stake in Abu Dhabi Islamic Bank (ADIB) from Mubadala Investment Company (Mubadala). This transaction brings EIIC’s total shareholding in ADIB to 47 per cent, signalling strong confidence in the prospects for the long-term growth of the UAE’s second-largest Islamic lender by assets.

EIIC has interests across diverse sectors including banking, asset management, real estate, hospitality, fintech as well as food and agriculture.

As a global investor, this transaction is in line with Mubadala’s strategy to create long-term value by optimising a global portfolio of investments across a variety of sectors. Mubadala remains committed to the UAE banking sector as one of the largest investors in the sector.

For the first quarter of 2023, Abu Dhabi Islamic Bank (ADIB)