ADIB to unveil expansion plans in Saudi Arabia soon: CEO

Logo of Abu Dhabi Islamic Bank Group

Abu Dhabi Islamic Bank Group’s CEO Mohamed Abdelbary said that Saudi Arabia is a strategic market for the lender, adding that there are major plans for expanding there to be announced soon.

In an interview with Al Arabiya, the top executive stated that the bank’s profit was underpinned by a 24% increase in customer deposits during the first half of this year, noting that the bank's financing assets rose by 14% during the first half of 2025.

The CEO also expected the bank to deliver the same or better performance during the second half of the year, given the growth in all financial indicators during the current year.

He highlighted that it is possible to issue additional non-convertible financial instruments (AT1) in the second half to support capital, as there is no need to issue these instruments at present.

Abdelbary also stated that an interest rate cut by half a percentage point this year will reduce profit by AED 120 million, noting that the US Federal Reserve is expected to lower interest rates during October and December.

ADIB said yesterday that its profits rose to AED 3.29 billion (AED 0.91 per share) by the end of H1 2025, an increase of 16% year-on-year from AED 2.85 billion.