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4-Traders Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Abu Dhabi Islamic Bank PJSC    ADIB   AEA000801018

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Abu Dhabi Islamic Bank PJSC : ADIB Securities named UAE’s best broker by Global Investor Magazine

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11/18/2013 | 03:49pm CET

ADIB Securities named UAE's best broker by Global Investor Magazine

ABU DHABI, XX November 2013: ADIB Securities, the brokerage subsidiary of Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, has been named the 2013 'Best Broker in the UAE' by Global Investor Magazine.

The Global Investor/ISF editorial panel in partnership with regional industry experts selected the winners based on various criteria, including trade volumes, growth and market share.

Investing in employees and technology has positioned ADIB Securities to benefit from the recent rally in the equity market.  It's third-quarter net profit at the brokerage increasing 15 fold from the previous year, and recording market share of 5.7%.

Commenting on the award, following a ceremony held in Doha, Tirad Al Mahmoud, CEO of ADIB said: "We're honored that Global Investor has recognized the success of ADIB Securities, which is underpinned by our clear commitment to excellent customer service. We plan to expand the business further, and our recently opened branch in the Dubai Financial Market is an important step."

Held annually, the awards are given at a Middle East summit held by Global Investor, a leading global publication that connects the industries of asset management, asset servicing and securities finance. Launched in 1985 and recognized as a flagship title of Euromoney Institutional Investor, the awards recognize industry champions from across the region.

ADIB Securities is a Sharia-compliant brokerage firm which has earned the trust of customers and partners over the years through transparency, service quality and advanced technology. Its best-in-class online e-trading platform "e-volution" provides an efficient and interactive online experience, enabling customers to invest at their own pace, according to their financial goals.

ADIB Securities' wide array of products and services can be accessed online via www.adibsecurities.ae or through various ADIB branches across the UAE.  The newest branch, in the Dubai Financial Market (DFM), opened in June 2013.

Notes to Editors

About ADIB:

Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company following the Emiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan on 18th April 1999. ADIB's vision is to be a top-tier, global Islamic financial services group and its mission is to provide Islamic financial solutions to the global community. The Bank carries out all contracts, operations and transactions in accordance with Islamic Sharia principles. ADIB's core values, reflected in all its activities are: Simple and Sensible; Transparent; Mutual Benefit; Hospitality and Tolerance; and Sharia inspired. It brings to its customers banking as it should be.

For media information, please visit www.adib.ae or contact:

ADIB
Lamia Hariz
Head of Corporate Communications & PR
Direct: +971 2 412 8093
Mobile: +971 50 616 4191
Email: Lamia.Hariz@adib.ae

Brunswick Group
Dominic Whiting
Director
Direct: +971 2 234 4603
Mobile: +971 56 174 0293
Email: ADIB@brunswickgroup.com

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Financials ( AED)
Sales 2016 5 390 M
EBIT 2016 2 768 M
Net income 2016 1 758 M
Debt 2016 -
Yield 2016 6,50%
P/E ratio 2016 6,81
P/E ratio 2017 6,44
Capi. / Sales 2016 2,08x
Capi. / Sales 2017 1,99x
Capitalization 11 215 M
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Mean consensus HOLD
Number of Analysts 4
Average target price 4,03  AED
Spread / Average Target 14%
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Managers
NameTitle
Tirad Marouf Mahmoud Chief Executive Officer
Jawaan Awaidha Suhail Al-Khaili Chairman
Sagheer Mufti Global Head-Operations & Technology
Andrew Douglas Moir Head-Global Finance & Strategy
Khamis Mohammed Buharoon Al-Shamsi Non-Executive Director
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