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ADIB plans acquisitons

Abu Dhabi Islamic Bank (ADIB) is planning to make acquisitions in Asia, the Middle East and North Africa in 2016. Tirad al-Mahmoud, the bank’s chief executive, said the bank was looking for opportunities in Malaysia and Indonesia, as well as Algeria, Jordan and Morocco. Return on equity across the local banking industry was expected in the region of 15 to 18% this year, he said, adding that he hoped ADIB to be at the top end of that range.

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