ADIB achieves the fastest quarterly growth in 5 years with significant expansion in granting loans

Abu Dhabi Islamic Bank - Egypt (ADIB) has expanded its loans significantly during the current year, as reflected in its total customer loans by 40.30% in the first 9 months of 2024, marking the fastest quarterly growth in 5 years, thanks to the efforts of Mohammed Aly, the Bank's CEO and Managing Director and his team.

According to the bank's financial statements, its total loans volume for customers rose to 95.2 billion pounds by the end of September 2024, compared to 67.85 billion pounds by the end of 2023, an overall increase of 27.3 billion pounds.

This outstanding performance highlights customer confidence in the services provided by the Bank, as well as its ability to adapt to economic challenges and achieve sustainable growth. It also highlights Abu Dhabi Islamic Bank-Egypt's role as one of the leading players in the Egyptian banking sector, contributing effectively to supporting the national economy by financing SMEs and individuals.

Despite Abu Dhabi Islamic Bank-Egypt's strong growth in finance portfolio However, it managed to maintain a low distress rate of 2.19% by the end of September 2024, below the 2.4% average recorded in the banking sector by the end of the same period.

Highlighting the growth rates achieved over the past years, the Bank has grown its total customer loans by 9.59% during the first 9 months of 2023, while it recorded growth of about 21.45% during the same period in 2022.