Abu Dhabi Islamic Bank advances as Abu Dhabi banking sector increases UAE share-continued

March 08, 2012--In line with the general recovery at global financial markets Thursday, the ADX General Index closed 0.33% higher at 2,561.74 points
. Fujairah Cement Industries gained the most (up 9.20%), while First Gulf Bank, as the most liquid shares, dipped slightly. Shares of Abu Dhabi Islamic Bank (ADIB) gained 0.30%. Earlier in the day, National Bank of Abu Dhabi's Chief Economist Dr. Giyas Gokkent said in an eMailed statement, "data from financial statements of listed banks continue to point to a rise in the share of Abu Dhabi based banks in the UAE banking system. Abu Dhabi based banks’ assets are getting closer to accounting for half of the UAE banking system, up from about 34% at the start of 2008." He added that "listed Abu Dhabi based banks’ deposits rose by 8.1% year-on-year in 2011, while top listed Dubai banks’ deposits fell by 3.5% year-on-year in 2011."

Source: AME Info

Middle East ETP News
DEPA shares hit 11-month low
October 2, 2014--The FTSE NASDAQ Dubai UAE 20 Index closed 1.61 per cent lower at 4,555.66 points on Thursday, October 2.
read more
Lackluster Abu Dhabi exchange dips
October 2, 2014--The Abu Dhabi market index ADXGI fell by 0.37 per cent to 5,111.25 points on Thursday, October 2.
read more
Emaar Malls Group gains strongly on first day of trading
October 2, 2014--Despite the euphoria on the Dubai trading floor about the first listing of the biggest IPO since 2007, the Dubai Financial Market (DFM) general index lost 1.68 per cent to close at 4,957.87 points on Thursday, October 2.
read more