ADCB-Egypt's net profit jumps by 50% , records EGP 1.065 bn, At 2022

The financial statements of Abu Dhabi Commercial Egypt, ended on December 31, 2022, revealed an increase in the bank’s net profits, with a growth rate of 49.98%, to record 1.065 billion pounds in 2022, compared to 710.2 million pounds in 2021.

 profit before income taxes increased by 65.82%, to record 1.666 billion pounds in 2022, compared to 1.062 billion pounds in 2021, an increase of 603 million pounds.

Net interest income jumped by 64.69%, to record 2.887 billion pounds in 2022, compared to 1.753 billion in 2021, and an increase of 1.134 billion pounds.

Net income from fees and commissions increased by 64.20%, to record EGP 479.4m in 2022, compared to EGP 292m in 2021, an increase of EGP 187m.

Total loans and facilities to clients increased by 40.88% during 2022, an increase of 9.113 billion pounds, to reach 31.404 billion pounds at the end of December 2022, compared to 22.291 billion at the end of December 2021.

The total deposit portfolio jumped by 83.63% over the past year, after the bank  increased its deposits by 34.380 billion pounds, to record 75.492 billion pounds at the end of December 2022, compared to 41.112 billion at the end of December 2021.

The bank's total assets increased by 78.20% during 2022, to record 86.2 billion pounds at the end of last December, compared to 48.4 billion pounds at the end of December 2021.

The bank's positive results confirm the efficiency and flexibility of the executive strategies that helped the bank achieve unprecedented leaps in the growth rates  during the past year.