Abu Dhabi Commercial sells 20% stake to Orient Insurance

– Mubasher: Abu Dhabi Commercial Bank Group executed the sale of its 20% stake in Orient Takaful Insurance Company, an Egyptian public joint stock company, based in the Arab Republic of Egypt, to Orient Insurance Company on November 25, 2021..

Abu Dhabi Commercial Bank had disclosed in early November 2020 about this deal, indicating that it comes within the framework of the bank’s strategy aimed at focusing on the main banking business, according to a press release.

The bank indicated that this transaction will not have any material impact on the bank’s profitability.

It is reported that the net profit increased For Abu Dhabi Commercial Bank 436 percent during the first quarter of this year 2021, compared to the first quarter of 2020, and an increase of 11 percent compared to the fourth quarter of last year.

The bank achieved a net profit of 1.121 billion dirhams during the first quarter of this year 2021.

The bank recorded savings of 917 million dirhams at the end of 2020, as Abu Dhabi Commercial Bank is moving forward in its quest to pass the targeted savings by the end of 2021, amounting to one billion dirhams..


Videographic.. How did Dubai become a regional and global aviation hub?

Infographic.. Top 10 information about the Dubai Airshow 2021

These were the details of the news Abu Dhabi Commercial sells 20% stake to Orient Insurance for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Federal Reserve Chairman: “Omicron” threatens the recovery of the US economy

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]