26/08/2026 04:16 AST
Abu Dhabi Islamic Bank's (Adib) board of directors has approved a proposal to raise Dh1.75 billion through a rights issue, subject to shareholder and regulatory approvals.
The proposed rights issue will comprise 106,383,000 new ordinary shares priced at Dh16.45 per share, a discount of approximately 28.8 per cent to Adib's closing share price of Dh23.10 on the Abu Dhabi Securities Exchange on August 24, 2026.
Eligible shareholders will be entitled to subscribe for roughly one new share for every 34.14 existing shares held, subject to final terms and rounding arrangements.
The bank said the issue will allow existing shareholders to participate in its next growth phase while maintaining their proportional ownership.
Adib's major shareholders have confirmed they will participate in the rights issue and subscribe for their respective entitlements, signalling continued confidence in the bank's strategy and long-term growth ambitions, the statement said.
The lender said the move builds on its recent growth momentum and will support the next phase of expansion under its Vision 2035 strategy, while continuing to generate long-term value for shareholders.
Adib's total assets reached Dh304 billion in the first half of 2026, surpassing the Dh300 billion mark for the first time in the its history, following 24 per cent asset growth in 2025.
Return on equity stood at 28 per cent in 2024, rose to 29 per cent in 2025, and remained at an industry-leading 28 per cent in the first half of 2026, underlining the strength of the bank's business model, Adib said.
Jawaan Awaidha Suhail Al Khaili, chairman of Adib, said the bank had delivered several years of healthy and consistent growth, supported by the strength of its franchise, market-leading returns and a clear focus on shareholder value. He said the proposed rights issue reflects the board's confidence in the opportunities ahead as the bank advances Vision 2035.
Mohamed Abdelbary, group CEO of Adib, said the bank's return on equity of 29 per cent in 2025 and 28 per cent in the first half of 2026 reflected the strength of its business model and disciplined execution.
He described crossing Dh300 billion in total assets for the first time as an important milestone, adding that Vision 2035 gives the bank a clear roadmap to accelerate its next phase of growth.
He added that the focus remains on sustaining healthy, profitable growth, deploying capital efficiently and delivering attractive long-term returns for shareholders.
Khaleej Times
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