Monday, 6 December, 2021
E-paper

ADIB seeks M&A deals in UAE, GCC to expand asset base

ADIB seeks M&A deals in UAE, GCC to expand asset base

DUBAI: Abu Dhabi Islamic Bank, the biggest Sharia-compliant lender in the emirate, is looking for merger and acquisition opportunities in the UAE, the GCC and markets beyond the region, as it seeks to broaden its asset base, its group chief financial officer said.

Organic and inorganic growth are part of the bank’s overall expansion strategy and nothing is off the table, Mohamed Abdel Bary told The National in an interview on Sunday. The bank’s client base is “very active” in the region and in several other markets including Egypt, where ADIB already has a significant presence, report agencies. “That’s where we are looking. The target has to be accretive to us and to our clients,” he said. “So, the UAE is definitely on the list among many other markets in the GCC.”