Abu Dhabi Islamic Bank (ADIB) said its board of directors will meet on Wednesday to discuss acquiring Egypt s National Bank for Development (NBD).

ADIB directors will also consider the establishment of an investment company, the bank said in a statement on the Abu Dhabi bourse Web site. It was not more specific.

ADIB and Emirates International Investment Co. bid this month for Egypt s NBD, offering less than a third of its market value.