Abu Dhabi Islamic Bank: Update to credit analysis
FINANCIAL INSTITUTIONS CREDIT OPINION 29 November 2017 Update RATINGS Abu Dhabi Islamic Bank Domicile United Arab Emirates Long Term Issuer Rating Not Available Type Not Available Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Nitish Bhojnagarwala +Abu Dhabi Islamic Bank Egypt SAE, formerly National Bank for Development (NBD), is an Egypt-based public shareholding company engaged in the provision of retail, corporate and investment banking services through a network of 69 branches located across Egypt. The Bank's products and services are structured into four segments: the Personal banking segment includes current and saving account, investment account, club finance, charitable accounts and sukuk, among others; the Microfinance segment includes microfinance program; the Wholesale banking segment includes corporate banking, financial institutions and trade, cash management and corporate finance, and the Treasury segment includes foreign exchange, sharia-compliant products and market analysis/updates. In January 2014, the Company sold 11,619,575 shares representing 77.46% stake in National Company for Glass and Crystal's share capital to Abu Dhabi Islamic Financial Investments Holding.
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