U.A.E. Islamic Bank Asks What’s in a Name After Barclays - Bloomberg

U.A.E. Islamic Bank Asks What’s in a Name After Barclays - Bloomberg:



"Abu Dhabi Islamic Bank PJSC (ADIB), which bought the local retail assets of Barclays Plc (BARC) last month, is weighing whether to change its name as it targets more non-Muslim customers beyond its home market.



The second-biggest Islamic lender in the United Arab Emirates may change to Abu Dhabi International Bank outside the nation to lure customers drawn to ethical banking, Tirad Mahmoud, chief executive officer of ADIB, said during a conference in the emirate last week. This could help capture a loan market that’s about 200-times the size of Shariah lending.



With 60 percent of U.A.E. residents already holding bank accounts, faster growth opportunities for ADIB may need to come from international markets, according to Shabbir Malik at EFG-Hermes Holding SAE. The lender’s purchase of the Barclays asset was a rare chance to secure 110,000 new customers at home."



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