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.

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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.

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