ADCB records fastest annual growth in net profits in 5 years, with a growth rate of 108.66%

ADCB Egypt managed to achieve strong net profit growth over the past year, rising by 108.66% in 2024, marking the fastest annual growth in 5 years, driven by the efforts of Ihab ElSewerky, the bank's CEO and Managing Director and his Team.

The bank's net profit jumped to 4.27 billion pounds in 2024, compared to 2 billion pounds in 2023, with a total increase of 2.2 billion pounds.

This growth was the result of strategies to improve the efficient management of assets and diversify sources of income, as well as the substantial expansion of loans and assets.

Highlighting the growth rates achieved over the past years, the Bank grew by 92.18% in net profit in 2023, while rising by 49.98% in 2022.

Abu Dhabi Commercial Bank achieved 44.78% net profit growth in 2021 and 14.28% growth in 2020.

Abu Dhabi Commercial Bank (ADCB) Egypt's financial performance over the past year reflects a strong trend towards inclusive and sustainable growth, with significant rises in several key financial indicators, reflecting its ambitious strategy and future vision to strengthen its position in the banking market.

Net interest income jumped by 88.92%, reaching 8.6 billion pounds in 2024, compared with 4.6 billion pounds in 2023, up over 4 billion pounds.

Net fees and commissions income rose to 1 billion pounds in 2024, compared to 644.1 million pounds in 2023, a growth of 58 .32% and an increase of 375.6 million pounds.

In terms of its financial position, the asset portfolio rose by 36.81% and an increase of 36.09 billion pounds over the past year, registering 134.16 billion pounds by the end of 2024, compared with 98.06 billion pounds by the end of 2023.

The Bank's deposit portfolio rose by 34.48% over the past year, reaching 116.50 billion pounds by the end of 2024, compared with 86.64 billion pounds by the end of 2023, an increase of 29.87 billion pounds.

The bank's total loan portfolio jumped by 45.43% and an increase of 17.17 billion pounds over the past year, reaching 54.96 billion pounds by the end of 2024, compared to 37.79 billion pounds by the end of 2023.