ADCB Egypt leads Egyptian banks in financial investments’ growth rate during 2022
Abu Dhabi Commercial Bank - Egypt topped First Bank list of the fastest growing banks in total financial investments, at a rate of 89.48% in 2022.
Total financial investments in ADCB rose to EGP30.81 bn by the end of 2022, compared to EGP16.26 bn by the end of 2021, an increase of EGP14.55 bn.
The large increases in the bank's total financial investments are mainly due to the large increase in T-bills, which rose from EGP 10.81 bn at the end of 2021 to EGP 23.51 bn at the end of 2022, achieving a growth rate of 117.43%, and an increase of EGP 12.7 bn.
The significant increase in the bank's financial investments at fair value through comprehensive income also played a major role in increasing the bank’s total investments, as it increased by 49.89%, to record EGP7.21 bn at the end of 2022, compared to EGP4.81 bn at the end of 2021, an increase of EGP2.4 bn.
While the bank's total financial investments were not affected by the decline in its financial investments at amortized cost, to EGP96.21 mn at the end of last year, compared to EGP641.223 mn at the end of 2021.
This distinguished performance prompted an increase in its share in the financial investment market, as its share jumped to 0.70% of total financial investments (securities) in the banking sector by the end of 2022, compared to 0.49% by the end of 2021, successfully adding 0.21% to its share.
