Adib unit named UAE’s top brokerage
Abu Dhabi, February 16, 2012
Abu Dhabi Islamic Bank (Adib), a top-tier Islamic financial group, announced that Adib Securities, its brokerage subsidiary, was ranked number one brokerage firm among UAE brokerage firms.
The ranking was allotted in terms of market share according to official data released by the Dubai Financial Market and the Abu Dhabi Stock Exchange, Adib said.
In 2011, Adib Securities combined market share was 8.6 per cent up from 5.5 per cent in 2010, a 56 per cent increase, despite a negative market sentiment and a 45 per cent decline in trading volumes across UAE markets. In January 2012 Adib Securities remained a market leader with a 10.5 per cent market share.
Khaled Kurdieh, general manager of Adib Securities, said: “Adib Securities has been able to increase market share in the UAE despite a challenging environment as its focus has been on client retention and acquisition with an even greater emphasis on service quality.”
“We were able to post profits throughout the year despite thin volumes and general uncertainty in the markets.” – TradeArabia News Service