ADIB close to rank eighth in the list of the largest banks in loans in the Egyptian market

Abu Dhabi Islamic Bank (ADIB) Egypt was able to reformulate the banking rules in 2024, not only as the fastest growing Islamic bank, but as a strategic player competing strongly in the top 10 list, thanks to the efforts of Mohamed Aly, CEO, Managing Director of the Bank and his team.

After years of thoughtful expansion, Abu Dhabi Islamic Bank succeeded in making a historic leap that culminated in its entry into the "top Ten" club for the first time since entering the Egyptian market, and led by Islamic banks in the asset and deposit markets, outperforming Faisal Islamic, which held the throne of these markets until the end of June 2024, after the bank retained leadership in the finance market only.

The ambition of Abu Dhabi Islam Bank did not stop there, shifting its focus towards the more exciting battlefield of the "loan market", where it succeeded in reducing the gap with its rival "NBK" to the most minimal, benefiting from its extraordinary performance in 2024.

Although the National Bank of Kuwait (NBK) has outperformed "Abu Dhabi Islamic Bank" in the granting of loans over the past two years, the latest financial statements reveal a new upcoming change, as the bank is a step away from clinching eighth place in Egypt's largest loan market.

According to the independent financial statements, the gap between the two banks narrowed to 1.47 billion pounds by the end of 2024, which strongly enhances the likelihood of Abu Dhabi Islam Bank clinching eighth place, should the bank's rapid growth continue.

Over the past year, Abu Dhabi Islamic Bank's total customer loans has jumped 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, marking the fastest annual growth in 8 years and the largest ever increase in value.

As for the National Bank of Kuwait (NBK) - Egypt, the Bank's total customer loan rose by 37.02% last year, reaching 104.2 billion pounds by the end of 2024, compared with 76.1 billion pounds by the end of 2023.

Overall, Abu Dhabi Islamic - Egypt (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.