ADIB-Egypt’s CEO leads his bank to achieve solid profits during 2022

Abu Dhabi Islamic of Egypt, leading private sector Islamic bank, witnessed a sturdy performance during 2022 thanks to the investment strategy of Mohamed Aly, the bank’s CEO.  

ADIB Egypt’s asset portfolio increased by 29.01%, to record EGP116.83 billion by the end of 2022, compared to EGP 90.55 billion by the end of 2021; an increase of EGP 26.27 billion.

The bank has strengthened its tendency towards invest its assets into loans, which is reflected by the increase in the loan to total assets ratio to 48.41% by the end of 2022, compared to 49.87% by the end of 2021.

However, the bank’s financial investment portfolio ranked second, as it acquired a relative weight of 26.60% of the bank's total assets by the end of 2022, compared to 33.55% by the end of 2021.

Balances with banks came in third place, as they acquired a relative weight of 12.17% of the bank’s total assets at the end of 2022, compared to 5.16% at the end of 2021.

However, the cash and balances with CBE was the fourth after it acquired 8.50% of the bank’s total assets at the end of 2022, compared to 6.70% at the end of 2021.

Furthermore, the deposits portfolio jumped from EGP 75.68 billion at the end of 2021 to EGP 97.61 billion at the end of 2022, achieving a growth rate of 28.98%, and an increase of EGP 21.93 billion.

Moreover, the bank's total loans increased by 26.25%, to reach EGP 59.38 billion by the end of 2022, compared to EGP 47.04 billion by the end of 2021; an increase of EGP 12.35 billion

Yet, bank’s net profits jumped by 50.69%, to record EGP2.19 billion in 2022, compared to EGP1.45 billion in 2021; an increase of EGP 736.62 million

This contributed to achieving a significant jump in its earnings per share, as it rose to EGP 7.44 per share in 2022, compared to EGP 6.07 per share in 2021, achieving a growth rate of 22.57%, and an increase of EGP 1.37 per share.