Latest news with #EmiratesIslamicBank
Zawya
09-06-2025
- Business
- Zawya
Emirates Islamic to delist from DFM on June 10
Emirates Islamic Bank (EIB) has started the process to delist from the Dubai Financial Market (DFM) following its acquisition by Emirates NBD. EIB has instructed DFM to suspend trading of its shares from Tuesday, 10 June 2025, 'and all remaining EIB shares not already held by ENBD' to be re-registered in the Dubai lender's name by 13 June. Emirates NBD has said it will settle any cash consideration due to remaining EIB shareholders through the relevant payment channels. (Writing by Bindu Rai, editing by Seban Scaria)
Arabian Business
09-06-2025
- Business
- Arabian Business
Emirates NBD completes mandatory acquisition of Emirates Islamic Bank shares
Emirates NBD (ENBD) has completed its mandatory acquisition of all remaining shares in Emirates Islamic Bank after no shareholders objected to the takeover. The mandatory acquisition process began when Emirates Islamic Bank announced on April 8, 2025 that it had received notification from Emirates NBD regarding the compulsory purchase of all shares held by shareholders who had not accepted the bank's initial offer. The original offer was made in accordance with terms set out in an offer document dated February 27, 2025, according to the announcement made on June 9, 2025. Emirates NBD secures full ownership The notice period for the mandatory acquisition ended on June 7, 2025. As of June 9, 2025, neither Emirates Islamic Bank nor Emirates NBD had received any objections to the mandatory acquisition. Emirates Islamic Bank will instruct the Dubai Financial Market to suspend trading of its shares from Tuesday, June 10, 2025. All remaining Emirates Islamic Bank shares not already owned by Emirates NBD will be re-registered under Emirates NBD's name in the share register on or around June 13, 2025. Emirates NBD will settle cash consideration for the remaining Emirates Islamic Bank shareholders through payment methods registered with Dubai CSD at the Dubai Financial Market. The process of paying proceeds from the mandatory acquisition to shareholders is expected to commence on or around 9 June 2025. Shareholders who did not register a payment method with Dubai CSD must contact the organisation to update their payment information and receive their cash consideration within six months of the notice date. After this period expires, Emirates Islamic Bank shareholders will need to contact Emirates NBD directly to receive their cash consideration. For further information, shareholders can contact Customer Service at the Dubai Financial Market on telephone or email. The acquisition gives ENBD 100 per cent ownership of Emirates Islamic Bank's entire issued and paid-up share capital.
Khaleej Times
09-06-2025
- Business
- Khaleej Times
UAE: Emirates Islamic Bank to delist from Dubai stock market
Emirates Islamic Bank (EIB) on Monday said it will delist from the Dubai Financial Market (DFM) after Emirates NBD acquired all of its shares. In a statement to DFM, where it is listed, EIB said it would instruct the DFM 'to suspend trading of its shares with effect from Tuesday, June 10, 2025, and all remaining EIB shares (not already held by ENBD) will be re-registered in the name of Emirates NBD in EIB's share register on or around June 31, 2025.' The Shariah-compliant lender said it had received a notification from Emirates NBD Bank with regards to the mandatory acquisition of all shares in EIB held by EIB shareholders who have not accepted ENBD's offer in accordance with the terms of the Offer Document dated February 27, 2025, in order to attain 100 per cent ownership of the entire issued and paid up share capital of EIB. EIB shareholders were notified that the notice period for mandatory acquisition ended on June 7, 2025. As of Monday, neither Emirates Islamic nor Emirates NBD has received any objection to the mandatory acquisition, said a statement. Emirates Islamic's net profit increased to a record Dh1 billion in the first quarter of 2025, up by 24 per cent. In 2024, it reported a record profit before tax of Dh3.1 billion, a 46 per cent increase over the previous year. Net profit also reached a record high of Dh2.8 billion, representing a 32 per cent growth. 'Shareholders who did not opt for a payment method with the Dubai CSD are requested to contact Dubai CSD to update their payment information and receive their cash considerations within six months of the date of this notice,' it said, adding that after the lapse of this period, EIB shareholders will need to contact Emirates NBD directly to receive their cash.
TECHx
03-06-2025
- Business
- TECHx
Jumbo Electronics Launches GAME ON at Mall of the Emirates
Home » Emerging technologies » Gaming » Jumbo Electronics Launches GAME ON at Mall of the Emirates Jumbo Electronics has announced the launch of 'GAME ON', a major gaming event at its flagship store in Mall of the Emirates. The event runs until 22nd June 2025. GAME ON offers a high-energy experience for gamers of all levels. From casual players to professionals, everyone is welcome to join. The event features: Gaming competitions with AED 275,000 worth of prizes Daily challenges and leaderboard rewards Jumbo reported that GAME ON is part of its efforts to strengthen ties with the UAE's gaming community. The store has been transformed into a fully immersive gaming arena. Players can compete in popular titles such as Fortnite, Counter-Strike 2, Call of Duty: Warzone, and EA FC 25. All gameplay equipment, including PS5 consoles and high-performance gaming laptops, is provided onsite. Each participant gets three attempts per game. Scores must be submitted to the onsite admin to appear on the live leaderboard. Weekly, the top four players in each game will win gaming headsets and accessories. By the end of the event, the overall top 16 will receive grand prizes such as gaming laptops, monitors, peripherals, and full gaming kits. Additionally, anyone purchasing a gaming laptop at Jumbo before 22nd June will receive an exclusive gaming kit worth AED 299 or AED 700, depending on the model. These offers are available while stocks last. Registration is simple. Players can sign up at and show up ready to compete. Vikas Chadha, CEO of Jumbo Electronics, stated, 'Gaming is a core part of our vision. Through GAME ON, we aim to build deeper connections with the gamer community.' Beyond gaming, Jumbo has also revealed its Eid Mubarak Best Price Guarantee campaign. This offer runs from 2nd to 8th June 2025. During this campaign, Jumbo guarantees the lowest prices on eligible products, matching competitor prices both in-store and online at Customers can also benefit from: 10% cashback up to AED 200 with Emirates Islamic Bank and Sharjah Islamic Bank credit cards Easy instalment plans via Mashreq Bank, Emirates NBD, Emirates Islamic Bank, and Deem Finance Jumbo continues to expand its reach in gaming and tech retail. GAME ON marks another step toward offering more value and experiences to customers across the UAE.
Zawya
23-04-2025
- Business
- Zawya
Emirates Islamic Bank's profits hike to $272mln in Q1-25
Dubai: The net profits of Emirates Islamic Bank jumped to AED 1 billion in the first quarter (Q1) of 2025 from AED 811.44 million in Q1-24. Earnings per share (EPS) increased to AED 0.18 as of 31 March 2025 from 0.14 in the year-ago period, according to the financial results. The DFM-listed lender recorded total operating income valued at AED 1.44 billion in Q1-25, an annual rise from AED 1.34 billion. Total assets amounted to AED 123.35 billion in Q1-25, compared to AED 111.12 billion a year earlier. Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, commented: 'The bank successfully issued a $750 million Senior Unsecured Sukuk in Q1-25. This successful benchmark issue reflects the increasing recognition of Emirates Islamic among the global investor community, evidenced by over $1.60 billion of demand from local and international investors.'
