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Islamic Finance Briefing - Categorized | Banking, Performance more

NBD Islamic finance portfolio grows 24 pct in 2011

Posted on 16 March 2012

The National Bank for Development (NBD) in cooperation with Abu Dhabi Islamic Bank (ADIB) have announced its 2011 financial results, which revealed positive indicators despite the circumstances the Egyptian economy faced during the past year.
2011 witnessed significant growth in the Islamic financing portfolio, reaching EGP 600 million after excluding bad debt from before the acquisition, with a growth rate of 24 per cent compared to 2010. The portfolio increased from EGP 2.7 billion in 2010 to EGP 3.3 billion at the end of 2011, which is five times the growth rate of 4.5 per cent in the Egyptian market………………………………………..Full Article: Source

 
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