By: Amr Adel
Dubai – Mubasher: Emirates Islamic Bank’s (EIB) anticipated capital increase aims to support the bank’s future expansion plans and meet Basel III standards
The bank is expecting more expansion opportunities in the coming period, according to the bank’s CEO Bin Ghalaita.
Offering new shares for the bank’s shareholders is part of the plan to increase the capital and thus to support all expansion plans.
The bank’s board decided to increase the capital from AED 3.93 billion to AED 5.43 billion through issuing rights issue worth AED 1.5 billion.
EIB plans to increase its branches in Dubai and Abu Dhabi, Bin Ghalaita noted, adding that the bank has 60 branches all over the UAE.
Translated by: Julian Nabil
