Abu Dhabi Islamic Bank raises stake in Egypt unit to 52.6%

Abu Dhabi Islamic Bank PJSC (ADIB) has raised its stake in its Egyptian subsidiary ADIB Egypt from 50.2 percent to 52.6 percent.

The Emirati lender, which is listed in the Abu Dhabi Securities Exchange (ADX), has bought 9.60 million shares in ADIB Egypt at an average price of 16.18 Egyptian pounds ($0.65) per share, a bourse filling showed on Monday.