ADIB Egypt's finance portfolio jumps by 32.37% in 2022

 

The consolidated financial statements of ADIB for the fiscal year ending on December 31, 2022 revealed a remarkable growth in the bank’s corporate finance, as it jumped by 32.37%, to reach EGP44.99 bn by the end of 2022, compared to EGP33.99 bn by the end of 2021. An increase of EGP11 bn.

This strong performance was driven by the growth of direct finance, as it jumped from EGP 27.04 bn at the end of 2021, to EGP 36.51 bn at the end of 2022, achieving a growth rate of 35%, and an increase of EGP 9.47 bn.

Direct finance acquired 81.15% of the bank’s total corporate finance by the end of 2022.

The value of direct finance during 2022 was distributed among many sectors, in which industrial corporates acquired the largest share, 36.63% of the bank’s total direct financing, after recording EGP13.37 bn, while the bank’s financing for the government sector reached EGP7.03 bn.

The bank’s financing for the wholesale and retail trade sectors reached EGP6.53 bn, while its financing for services amounted to EGP4.17 bn, and the remaining value of EGP5.39 bn was distributed to other activities.

Debit current accounts jumped by 21.37%, to record EGP 8.13 bn at the end of 2022, compared to EGP6.69 bn at the end of 2021, an increase of EGP 1.43 bn.

Debit current accounts acquired 18.06% of the bank’s total corporate finance by the end of 2022.

The value of current accounts owed bywas distributed during 2022, among the various sectors, in which the government sector occupied the forefront, as it acquired 41.36% of total debt current accounts, after recording EGP 3.36 bn, while industrial corporates got EGP 3.01bn, wholesale and retail trade reached EGP 882.84 mn, while the bank’s financing for services recorded EGP250.95 mn, while the remaining value of EGP625.08 mn was distributed to other activities.

Moreover, Syndicated loans contributed a very small share, as it constituted 0.79% of the total ADIB corporate loans by the end of 2022.

The Bank's syndicated finance jumped by 40.69%, to record EGP356.46 mn by the end of 2022, compared to EGP 253.37 mn by the end of 2021, an increase of EGP 103.09 mn.

The bank’s syndicated finance were distributed between only two sectors; industrial corporates that acquired the largest share of the joint financing, with a share of 88.49%, after recording EGP315.42 mn at the end of 2022, while government finance sector amounted to EGP41.04 mn at the end of the same period.

corporate sector contributed 75.76% to   finance portfolio, which jumped to EGP59.38 bn at the end of 2022, compared to EGP47.04 bn at the end of 2021, an increase of EGP12.35 bn.