2023-05-07 08:26:15
Emirates International Investment Company – the strategic investment arm of National Holding – has acquired a 7.6% stake in Abu Dhabi Islamic Bank from Mubadala Investment Company (Mubadala).
Under the deal, the total stake of Emirates International Investment Company in Abu Dhabi Islamic Bank will rise to 47%, according to “CNBC Arabia”.
Emirates International Investment Company has investments in several sectors, including banking services, asset management, real estate investment, hospitality, financial technology, in addition to food and agriculture.
Abu Dhabi Islamic Bank had announced a growth in net profit during the first quarter of 2023 by 54%, to reach 1.1 billion dirhams.
It also recorded record revenues of two billion dirhams for the same period, an increase of 45% on an annual basis.
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