Emirates Islamic Bank to Delist from Dubai Financial Market
Emirates NBD Acquires 100% Stake in Islamic Bank
Bank will delist from the Dubai Financial Market after a full acquisition by Emirates NBD. The Emirates Islamic Bank announced that trading of its shares will stop on Tuesday, June 10, 2025.
Mandatory Acquisition Period Ends
EIB shareholders were informed that the mandatory acquisition notice period ended on June 7, 2025. Emirates NBD now owns 100% of the issued and paid-up share capital of Islamic Bank.
Share Transfer to Complete by June 31, 2025
Bank will re-register all remaining shares in Emirates NBD’s name by June 31, 2025. This action ensures complete ownership and delisting from the Dubai Financial Market.
No Objections Received from Shareholders
As of Monday, neither Islamic Bank nor Emirates NBD received any objections to the acquisition. The bank confirmed full compliance with the Offer Document dated February 27, 2025.
Instructions for Remaining Shareholders
Shareholders who didn’t select a payment method must contact Dubai CSD to receive cash payments. Bank stated they have six months from the date of this notice to do so. After that period, they must contact Emirates NBD directly to collect payments.
Strong Financial Performance
Bank reported a record net profit of Dh1 billion in Q1 of 2025. This marked a 24% increase compared to the previous year. In 2024, EIB posted Dh3.1 billion in pre-tax profits. Net profit reached Dh2.8 billion, a 32% rise from the previous year.
Strategic Consolidation Move
Bank delisting reflects Emirates NBD’s strategy to streamline and strengthen its banking operations. This move supports future growth and efficiency within the group’s Islamic banking segment. Bank, fully acquired by Emirates NBD, will officially delist from the Dubai Financial Market, marking a strategic consolidation to enhance operational efficiency and long-term growth prospects.