ADIB Egypt succeeds in downsizing rate of its Non-performing loans

 Abu Dhabi Islamic Bank-ADIB Egypt exerts tireless efforts, under the leadership of Mohamed Aly, for enhancing the quality of its loan portfolio through reducing the non-performing loans rate by more than half, to be one of the lowest rates in the Egyptian banking sector.

The bank’s rate of non-performing loans decreased to 2.09% at the end of the third quarter of 2022, compared to 4.90% at the end of 2016, with 2.72% decrease.

Due to the bank’s success in reducing corporates non-performing loans of its total financing to 0.83% at the end of last September, compared to 4.25% at the end of 2016.

However, the default rate for individuals increased marginally, to record 1.26% of total financing at the end of the third quarter of 2022, compared to 0.65% at the end of 2016.

However, the bank has seen higher loans to deposits ratio loans to stand at 66.84% by the end of September 2022 which is considered one of the highest rates in the banking sector as a whole, despite its significant decrease when compared to 2016, when it reached 73.59 %, which reflects the skill and efficiency of the current management towards loans file.