ADCB Egypt’s net profits jumps by 22%, records EGP 349.1 mn At Q1-2023

The Separate Financial Statements of Abu Dhabi Commercial Bank - Egypt, which ended on March 31, 2023, revealed an increase in the bank’s net profit, with a growth rate of 22%, to record EGP 349.1 mn during the first quarter of 2023, compared to EGP286.2mn during the same period of 2022, an increase of EGP 62.9 mn.

Total loans and facilities to customers increased by a growth rate of 3.7% during the first quarter 2023, with an increase of EGP1.183 bn, to reach EGP 32.6 bn at the end of March 2023, compared to EGP 31.4 bn at the end of December 2022.

Moreover,The bank’s total deposit portfolio increased by a growth rate of 1.47% during the first quarter of this year, after the bank was able to increase its deposits by EGP1.113 bn, to record EGP76.6 bn at the end of March 2023, compared to EGP 75.5 bn at the end of December 2022.

The bank’s total Assets witnessed a slight decline by 0.69% during the first quarter of this year, to record EGP 85.5 bn at the end of March 2023, compared to EGP86.2 bn at the end of December 2022.