{"id":579280,"date":"2023-02-01T04:15:29","date_gmt":"2023-02-01T04:15:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/"},"modified":"2023-02-01T04:15:29","modified_gmt":"2023-02-01T04:15:29","slug":"adib-nbk-give-thumbs-up-to-econ-reforms","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/","title":{"rendered":"ADIB + NBK give thumbs-up to econ reforms"},"content":{"rendered":"

<\/a> Two Gulf lenders are positive on Egypt: <\/strong>Senior staff at Abu Dhabi Islamic Bank (ADIB) and National Bank of Kuwait (NBK) both expressed optimism about Egypt and their businesses here in interviews yesterday.<\/p>\n

ADIB is reassured that we\u2019re taking the right measures: <\/strong>Group CFO Mohamed Abdel Bary said he has confidence that Egypt has all the \u201cneeded underlying fundamentals and resources to navigate the debt specific situation\u201d in a talk with Bloomberg (watch, runtime: 7:03<\/a>). ADIB\u2019s Egypt unit is a \u201clong-term strategic\u201d priority for the bank, which is \u201cvery much supporting its presence\u201d in the country, he said. While volatility places Egypt as the bank\u2019s greatest international exposure concern, Abdelbary said that ADIB\u2019s position was \u201cfully consolidated by the end of December 2022.\u201d<\/p>\n

Predicting a positive long-term outlook, NBK wants to expand its presence here:<\/strong> Egypt is the bank\u2019s second priority market after Saudi \u2014 and the recent devaluation here was a \u201cmove in the right direction\u201d despite the short-term economic impact, NBK Deputy Group CEO Shaikha Al Bahar said in a sitdown with the business information service (watch, runtime: 5:59<\/a>). She added that a weaker currency will increase foreign inflows, including in the form of FDI.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two Gulf lenders are positive on Egypt: Senior staff at Abu Dhabi Islamic Bank (ADIB) and National Bank of Kuwait (NBK) both expressed optimism about Egypt and their businesses here in interviews yesterday. ADIB is reassured that we\u2019re taking the right measures: Group CFO Mohamed Abdel Bary said he has confidence that Egypt has all […]<\/p>\n","protected":false},"author":1,"featured_media":579281,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[469,204,104,72,2234,3227],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-abu-dhabi-islamic-bank","tag-banking","tag-economy","tag-enterpriseam","tag-foreign-exchange","tag-national-bank-of-kuwait","wpautop","entry"],"acf":{"mongo_id":"a1a47cfb-a3b4-4233-b8ba-95f6dfe4ebe5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/4.jpg","photo_position":"above","related_issue":[579273],"teaser":"","voice_url":""},"yoast_head":"\nADIB + NBK give thumbs-up to econ reforms - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADIB + NBK give thumbs-up to econ reforms\" \/>\n<meta property=\"og:description\" content=\"Two Gulf lenders are positive on Egypt: Senior staff at Abu Dhabi Islamic Bank (ADIB) and National Bank of Kuwait (NBK) both expressed optimism about Egypt and their businesses here in interviews yesterday. ADIB is reassured that we\u2019re taking the right measures: Group CFO Mohamed Abdel Bary said he has confidence that Egypt has all […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-01T04:15:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/4.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"ADIB + NBK give thumbs-up to econ reforms\",\"datePublished\":\"2023-02-01T04:15:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/\"},\"wordCount\":205,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/4.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi Islamic Bank\",\"banking\",\"economy\",\"EnterpriseAM\",\"foreign exchange\",\"National Bank of Kuwait\"],\"articleSection\":[\"Banking\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/adib-nbk-give-thumbs-up-to-econ-reforms\/\",\"name\":\"ADIB + NBK give thumbs-up to econ reforms - 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The financing will help the company and its subsidiaries expand activities, the statement read. Who else is involved? Al Baraka Bank, Al Ahli Bank\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604690,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/new-tax-treatment-wont-affect-adibs-2018-financial-results\/","url_meta":{"origin":579280,"position":1},"title":"New tax treatment won\u2019t affect ADIB\u2019s 2018 financial results","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"Abu Dhabi Islamic Bank\u2019s 2018 financial results will not be affected by proposed amendments to the tax treatment of bank income from government debt, the bank said in an EGX disclosure (pdf). The bank expects, however, a decline of up to 8% in its 2019 profits. CIB and QNB had\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651743,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/earnings-watch-abu-dhabi-islamic-bank-egypt-adib-and-alexandria-medical-report-results\/","url_meta":{"origin":579280,"position":2},"title":"Earnings watch: Abu Dhabi Islamic Bank Egypt (ADIB) and Alexandria Medical report results.","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"**Earnings watch: Abu Dhabi Islamic Bank Egypt (ADIB) reported an 82% y-o-y rise in FY2016 net profit in to EGP 397.038 mn compared with the same period a year ago, the bank said in a statement. 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