ADIB-Egypt's net profit jumps by 54%, records EGP 2.126 bn at 2022

The separated-unaudited- financial statements of Abu Dhabi Islamic Bank Egypt, which ended on December 31, 2022, revealed that the bank’s net profit after tax increased by 54% during the past year, to record 2.126 billion pounds in 2022, compared to 1.380 billion in 2021.

The pretax profit from continuing activities jumped by 48.1% over the past year, to record EGP 3.219 billion in 2022, compared to EGP 2.174 billion during the previous year.

The return on Murabaha, Mudarabah, and similar revenues increased at a growth rate of 33.9% over the past year, to record 10.839 billion pounds in 2022, compared to 8.094 billion in 2021.

While the net interest income increased by 37.6% over the past year, to record 4.732 billion pounds in 2022, compared to 3.438 billion in 2021.

The basic earnings per share increased by a growth rate of 24.7% over the past year, to record (7.61) in 2022, compared to (6.10) in 2021.

The bank’s total customer deposits increased by 28.9% over the past year, to record EGP 97.743 billion at the end of December 2022, compared to EGP 75.803 billion at the end of December 2021.

Net financing and facilities granted to clients and banks increased by a growth rate of 25% over the past year, to record EGP 56.789 billion at the end of December 2022, compared to EGP 45.426 billion at the end of December 2021.

The bank increased the paid-up capital by 100% over the past year, from EGP 2 billion at the end of December 2021, to reach EGP 4 billion at the end of December 2022.

Equity also increased by 33.4% over the past year, to record EGP 8.623 billion at the end of December 2022, compared to EGP 6.463 billion at the end of December 2021.

Retained earnings jumped by 135.3% over the past year, to record EGP 4.114 billion at the end of December 2022, compared to EGP 1.749 billion at the end of December 2021.