ADIB Achieves 66.4% Growth on First Bank composite Growth Index in 2024

Abu Dhabi Islamic Bank - Egypt's separated financial statements, which ended on December 31, reported a combined growth rate of 66.36% over the past year.

This rate was measured by a composite index developed by First Bank to measure banks' financial performance by one digit, across all branches of activity comprising both net profits, asset portfolios, deposits and finances, during 2024.

The Bank managed to achieve record financial results in its four sub-indicators consisting of the "First Bank" index, primarily net profits, which accounted for the largest proportion of the growth of the activity "ADIB" at 96.57%, to 8.83 billion pounds in 2024, compared with 4.49 billion in 2023, an increase of 4.34 billion pounds.

The bank's total asset portfolio represented the second contributor to this growth, having risen by 61.12% and an increase of 98.19 billion pounds over the past year, registering 258.84 billion pounds by the end of 2024, compared to 160.65 billion by the end of 2023.

The total customer deposit portfolio represented the third contributor to ADIB's growth of 57.54% and an increase of 73.16 billion pounds over the past year, registering 200.28 billion pounds by the end of 2024, compared to 127.13 billion by the end of 2023.

The bank's total customer loans portfolio also jumped by 50.18% and an increase of 34.33 billion pounds over the past year, registering 102.74 billion pounds by the end of 2024, compared with 68.41 billion by the end of 2023.