Ramez Labib

Abu Dhabi Islamic Bank - Egypt

Abu Dhabi Islamic Bank (ADIB) Egypt is an award-winning bank that started its operations in Egypt after the acquisition of the National Bank for Development (NBD), through the Emirati consortium between Abu Dhabi Islamic Bank and Emirates International Investment Company (EIIC) in 2007. As part of its strategy to be a leading universal Islamic bank in Egypt, the Bank focuses on offering a broad spectrum of Shari'a compliant banking solutions, to cater to the needs of corporate and retail customers, the development of a state-of-the art infrastructure, and revamping its 70 branch network. Aiming at integrating its services, the Bank established an Investment Banking arm, ADIB Capital Egypt, and a leasing company, ADILease. Following the acquisition, the paid-up capital increased almost seven-fold from EGP 281mn to EGP 2bn and EGP 4bn authorized capital. ADIB Egypt posted EGP 237mn net profits end of 2014, which represents a 130% increase compared to the same period of 2013. ADIB Egypt succeeded in establishing a retail and corporate platform to service the customers in different segments and provide the necessary services of short-term and long-term finance. All these measures enabled the Bank to build a broad base portfolio of leading local and international companies operating in the Egyptian market. In addition to the asset and liabilities products and treasury services all delivered through client centric teams, ADIB Egypt employs a dynamic team of over 2,000 experts providing a growing portfolio of Shari'a compliant products and services via a stimulating work environment for staff across its nationwide network of 70 branches, and 40 microfinance units.