About |
Founded in 1980 as an Egyptian joint stock company in accordance with the provisions of Law No. 43 of 1974 and its amendments, with a paid-in capital of EGP 50 million, the ADIB Egypt (Former National Bank for Development) was established to help drive the private sector’s contribution to economic growth.
In the last quarter of 2007, ADIB Egypt’s (Former National Bank for Development) paid-up capital has increased almost seven-fold from EGP 281 million in 2007 to reach EGP 2 billion by end of 2010. The restructuring process that started post the acquisition included Retail banking, Wholesale banking and Microfinance. It also comprised overhauling the IT system to become a state of the art solution designed to match Islamic banking needs, allowing the bank to offer more innovative products and services to customers.
Meanwhile, the bank has worked on a branches network renovation plan as it completed the renovation of 26 branches by the end of 2012 in addition to the renovation of the headquarter buildings in Omar Makram and Garden City. As a result the bank’s branding takes center stage over Tahrir Square and gives significant prominence to the new corporate identity.
Today ADIB Egypt is one of the largest Islamic financial institutions operating in Egypt. It employs a dynamic team of over 2000 experts, providing a comprehensive range of banking and financial services through a nationwide network of 70 branches, 44 microfinance units and 73 ATMs across 21 governorates.
ADIB Egypt has now become a fully Islamic Shari’a compliant institution, capable of competing at the highest market standards.
Islamic Finance news (IFN), in their definitive Islamic Finance News Awards for Best Banks poll 2012, voted ADIB Egypt in cooperation with ADIB ‘Best Islamic Bank in Egypt’ for the fourth consecutive year, and ‘Best Islamic Private Bank’ for the second year.