ADCB's net profit jumps 109%, recording EGP 4.27 bn in 2024

Abu Dhabi Commercial Bank (ADCB) Egypt's short periodic financial statements, which ended on December 31, and have just been released on its official website, revealed that the bank's net profits grew by 108.67%, reaching EGP 4.27 bn in 2024, compared to EGP 2.05 bn in 2023, an increase of EGP 2.22 bn.

The bank's profit before income taxes rose by 101.54% and an increase of 3.15 billion pounds, registering 6.25 billion pounds in 2024, compared to 3.10 billion pounds in 2023.

In terms of the bank's financial position, the volume of the asset portfolio increased at a growth rate of 36.81% and an increase of EGP 36.09 bn over the past year, registering EGP 134.16 bn by the end of December 2024, compared to 98.06 billion by the end of December 2023.

The volume of the Bank's deposit portfolio grew by 34.48% over the past year, reaching EGP 116.50 bn by the end of December 2024, compared to 86.64 billion by the end of December 2023, bringing an increase of EGP 29.87 bn.

The Bank's total loan portfolio jumped by 45.43% and an increase of EGP 17.17 bn over the past year, reaching EGP 54.96 bn by the end of December 2024, compared to EGP 37.79 bn by the end of December 2023