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MarketScreener Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Abu Dhabi Islamic Bank PJSC    ADIB   AEA000801018

ABU DHABI ISLAMIC BANK PJSC

(ADIB)
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Abu Dhabi Islamic Bank : ADIB rolls out new digital personal finance service

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06/12/2019 | 08:47am EST

ADIB launched “Express Finance” for pre-approved customers seeking personal finance

ADIBADIB

1.55% 4.60 0.07

Abu Dhabi –​ Mubasher: Abu Dhabi Islamic Bank (ADIB), the largest sharia-compliant lender in Abu Dhabi, announced on Wednesday the launch of “Express Finance”, a new service developed by the bank’s Digital Lab as part of its digital transformation strategy.

Express Finance provides instant access to personal for ADIB’s approved customers to receive funds in less than 30 minutes, according to a press release.

The new service enables pre-approved customers seeking personal finance to receive their funds on the same day through the bank’s mobile app without the need to visit any of the bank’s branches.

“While the process for customers is quick, easy and secure, the risk methodology applied by the bank is still rigorous to ensure customers are getting a finance facility within their means,” ADIB said.

Pre-qualified UAE nationals can get up to AED 250,000 in financing with ADIB’s Express Finance, while expats can receive up to AED 100,000.

Serhat Yildirim, ADIB’s chief digital officer, said: “Consumer behavior has shifted significantly and having easy to use and convenient access to finance is becoming mainstream. Our Express Finance feature meets the needs of today’s consumers who want a safe, fast and easy access to finance.”

ADIB, listed on the Abu Dhabi Securities Exchange, currently conducts a digital transformation strategy with the aim to bolster the bank’s productivity and enhance the customer experience.

It is worth noting that the initial phase of the bank’s digital development programme included the launch of ADIB Express, “a new generation of technology-enabled branch balancing automation with a highly-personalised experience”.

The use of digital channels by ADIB’s customers accelerated with over 2 million mobile transactions now initiated via its mobile banking app every month.

ADIB has been recently awarded ‘Best Bank for Customer Experience’ for the eighth year in a row at the Banking Customer Experience Benchmarking Index Awards and ‘Best Islamic Digital Bank’ by Global Finance.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2019 5 927 M
EBIT 2019 3 205 M
Net income 2019 -
Debt 2019 -
Yield 2019 5,43%
P/E ratio 2019 -
P/E ratio 2020 -
Capi. / Sales2019 3,16x
Capi. / Sales2020 3,01x
Capitalization 18 741 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 6,00  AED
Last Close Price 5,16  AED
Spread / Highest target 29,8%
Spread / Average Target 16,3%
Spread / Lowest Target 4,65%
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NameTitle
Mazin Manna Group Chief Executive Officer
Jawaan Awaidha Suhail Al-Khaili Chairman
Hassan Adel Khalifa Head-Operations
Mamoun T. Al-Homssey Chief Information Officer
Khamis M. Khamis Buharoon Al-Shamsi Vice Chairman
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