ADIB Egypt’s growth accelerates to 36.29% during Q1-2023
Abu Dhabi Islamic Bank-Egypt’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 36.29%, compared to 22.15% during Q4-2022.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q1-2023.
The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 126.60% during Q1-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 6.87% during Q1-2023, and an increase in both asset and deposit portfolios by 7.60% and 4.09%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q4-22 to achieve a growth rate of 58.99%.
The bank’s Total loan portfolio increased by 3.95% during Q4-22, asset as well as deposit portfolios increased by 11.43% and 14.22%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
ADIB Egypts Growth Indicators
| # | Indicators | Value At-March-End-23 | Growth rate % | Value At-Dec-End-22 | Growth rate % |
|---|---|---|---|---|---|
| 1 | net profits | 1.007 Billion pounds | 126.6 % | 606.527 Billion pounds | 58.99 % |
| 2 | assets | 125.701 Billion pounds | 7.6 % | 116.827 Billion pounds | 11.43 % |
| 3 | deposits | 101.609 Billion pounds | 4.09 % | 97.614 Billion pounds | 14.22 % |
| 4 | Total customer loans | 63.458 Billion pounds | 6.87 % | 59.381 Billion pounds | 3.95 % |
| 5 | composite growth | 36.29 % | 22.15 % |
