“The deal on the acquisition of shares of Al Hilal Islamic Bank JSC by a large banking group Abu Dhabi Commercial Bank PJSC has been completed,” reads the statement.
Al Hilal Islamic Bank JSC has been renamed to ADCB Islamic Bank JSC. As of January 1, 2024, ADCB assets exceeded $155 billion, the loan portfolio amounted to $85.6 billion, and equity capital was $19.5 billion. ADCB ranks third out of 56 in terms of assets in the UAE banking sector and has a credit rating of "A" from S&P and "A+" from Fitch.
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