ADIB tops fastest-growing Gulf banks operating in Egypt in assets during 2024

Abu Dhabi Islamic Bank - Egypt (ADIB) has significantly strengthened its financial position over the past year, as evidenced by its portfolio of assets rising to 258.84 billion pounds by the end of 2024, compared to 160.65 billion pounds by the end of 2023, a growth of 61.12% and a total increase of 98.19 billion pounds.

Thanks to this record performance, the "First Bank" list of the fastest growing Gulf banks operating in the Egyptian banking sector in assets during 2024. The greatest advantage was its entry into the top 10 list for the first time since it entered the Egyptian market as the only Islamic bank on the list, clinching the top Islamic bank by the end of September.

Overall, Abu Dhabi Islamic Bank (ADIB) achieved a strong performance in its financial indicators over the past year, rising its net profit to 8.83 billion pounds in 2024, compared with 4.49 billion pounds in 2023, a growth of 96.57% and a total increase of 4.34 billion pounds.

Net interest income rose by 70.51% over the past year, reaching 14.98 billion pounds in 2024, compared with 8.79 billion pounds in 2023, representing an increase of 6.19 billion pounds.

Net fees and commissions income rose to 1.86 billion pounds in 2024, compared to 1.5 billion pounds in 2023, a growth of 22.65%.

The customer deposit portfolio jumped from 127.13 billion pounds by the end of 2023, to 200.28 billion pounds by the end of 2024, with a growth rate of 57.54%, and a total increase of 73.2 billion pounds.

The bank's total customer loans rose by 50.18% over the past year, reaching 102.74 billion pounds by the end of 2024, compared with 68.41 billion pounds by the end of 2023.

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