ADCB Egypt Grows By 63.17% On First Bank’s Composite Growth Index At 2022
Abu Dhabi Commercial bank Egypt recorded a composite growth rate of 63.17% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio at the end of December 2022, according to its latest separated financial results
This rate was measured through a composite growth index developed by First Bank to identify the financial performance of banks with a single figure during 2022
The bank achieved positive results in all four sub-indicators, deposit portfolio jumped by 83.64% last year to record EGP 75.49 bn at the end of 2022, compared to EGP 41.11 bn at 2021, an increase of EGP34.38 bn
However, assets portfolio came in second place by 78.20% to stand at EGP 86.17 bn at the end of December 2022, compared to EGP 48.36 bn by the end of December 2021, an increase of EGP37.81bn.
Furthermore, net profit come recorded a growth rate of 49.98%, reached EGP1.07 bn by the end of December 2022 compared to EGP 710,25mn by the end of 2021, an increase of EGP 354.97mn
In addition, Total bank's loans and facilities to customers jumped by 40.88% to record EGP 31.40 bn at the end of 2022, compared to EGP 22.29 bn at the end of 2021, an increase of EGP 9.11 bn
