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    ADIB   AEA000801018

ABU DHABI ISLAMIC BANK PJSC

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Abu Dhabi Islamic Bank PJSC : Oxford Business Group and Abu Dhabi Islamic Bank team up for 2012 publication

03/14/2012 | 07:23am EDT
Oxford Business Group and Abu Dhabi Islamic Bank team up for 2012 publication

ABU DHABI: INCREASED MARKET SHARE FOR SHARIA-COMPLIANT FINANCIAL SERVICES

Abu Dhabi, March  2012: Abu Dhabi Islamic Bank, a top tier financial institution, has announced today that it is about to Launch the ( Abu Dhabi OBG report for 2012). The growing role earmarked for the Bank's financial services industry will be put in the spotlight in a forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).

The Report: Abu Dhabi 2012 will provide detailed coverage of the resilience that the segment is showing against a backdrop of global economic uncertainty, bucking trends by registering growth as customers look for reliable alternatives to the conventional finance market. It will also explore the potential that exists for Islamic finance to increase its role in financing Abu Dhabi's large-scale infrastructure projects.

OBG has sealed a seventh year of partnership with the Abu Dhabi Islamic Bank (ADIB) to document the latest developments in the Emirate's Islamic financial services industry. As part of the collaboration, ADIB will team up with OBG to produce key data and analysis of Sharia-compliant banking and consider how it is redefining financial services in the Emirates.

OBG's Country Director Neslihan Aydagul said that while financial services was one of a number of sectors earmarked for growth in Abu Dhabi, Islamic banking in particular was proving to be a key component of the Emirate's bid to expand the role of the private sector in line with its guiding framework for economic growth, Economic Vision 2030. "The Islamic financial services segment has not only weathered global economic uncertainty well, but is also increasing its market share. Growth looks set for a further boost as new products enter the market," she said.

She added that OBG's long-standing working relationship with ADIB had undoubtedly given the Group's coverage of Sharia-compliant banking an edge. "I am delighted to welcome the bank's team of experts on board once again as we prepare to cover this important segment of financial services for The Report: Abu Dhabi 2012," she said.

The CEO of ADIB Tirad Mahmoud said the approach adopted in Islamic banking of having a business model based on ethics rather than mathematics, together with the emphasis placed on real and tangible assets, had provided the segment with a buffer against the worst of the world's economic problems.

"In light of what has happened with the global financial crisis, businesses are taking stock and really listening to clients' needs for ethically sound practices. Islamic banks are a natural product for that gap in the market," he said. "I look forward to renewing our collaboration with Oxford Business Group.

The Report: Abu Dhabi 2012 will mark OBG's 7th year of on-the-ground research on the Emirate. It will contain a detailed, sector-by-sector guide for foreign investors, alongside a wide range of interviews with the most prominent political, economic and business leaders.  It will be a vital guide to the Emirate, including its macroeconomics, infrastructure, banking and other sectoral developments. The Report: Abu Dhabi 2012 will be available in print or online.

About Oxford Business Group

Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms.

The critically acclaimed economic and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG's online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG's consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.

For more information please contact:
Oxford Business Group, Dubai, PO Box 502 659, Dubai, UAE
Kate Taylor, PR Manager
Phone: +971 44 264 642
E-mail: ktaylor@oxfordbusinessgroup.com


© Publicnow 2012
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Financials
Sales 2021 5 418 M 1 475 M 1 475 M
Net income 2021 1 168 M 318 M 318 M
Net Debt 2021 - - -
P/E ratio 2021 15,7x
Yield 2021 1,19%
Capitalization 18 269 M 4 974 M 4 974 M
Capi. / Sales 2021 3,37x
Capi. / Sales 2022 3,31x
Nbr of Employees 0
Free-Float 52,9%
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Average target price 5,37 AED
Last Close Price 5,03 AED
Spread / Highest target 15,3%
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Spread / Lowest Target -0,60%
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Managers and Directors
NameTitle
Mohamed Abdel Bary Group Chief Financial Officer
Jawaan Awaidha Suhail Al-Khaili Chairman
Mamoun T. Al-Homssey Chief Information Officer
Hassan Adel Khalifa Operations Head
Adel Ahmed Al-Zarouni General Manager-Real Estate & Administration
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