ADIB Egypt’s resources employment rate declines to 77.5% in Q1- 2023

resources employment rate at Abu Dhabi Islamic Bank-Egypt declined to 77.5% in Q1-2023, compared to 84.9% at the end of 2022.

Resources employment indicator, launched by First Bank, measures to what extent the bank is employing its traditional resources (deposits + shareholders’ Equity) in loans and financial investments.

The decrease in the index indicates the bank’s conservative policy in employing its resources during this period.

The bank has invested EGP 86.93 bn of its traditional resources, which recorded EGP 112.2 bn, by the end of Q1- 2023 into loans and financial investments, It invested EGP 63.46 bn into Total customer loans and EGP 23.48 bn into financial investments.

While the bank directed EGP 90.46 bn of its traditional resources, which recorded EGP 106.5 bn by the end of 2022 into total customer loans and financial investments, as it invested EGP 59.38 bn into total customer loans and EGP 31.08 bn into financial investments.

The bank's traditional resources at the end of March 2023 were distributed between EGP 101.61 bn into its deposit portfolio, and EGP 10.62 bn into shareholder’s Equity at the end of the same period.

Furthermore, ADIB Egypt’s Loans to deposit ratio rose to 62.45% at the end of March 2023, compared to 60.83% at the end of 2022, while financial investments to deposit ratio fell to 23.10% compared to 31.84% at the same comparable period.

The decline in the bank's employment index during Q1- 2023, strengthened distance from the average sector, as the employment index of the banking sector recorded 91.22% by the end of February 2023, according to the latest data of the Central Bank of Egypt.

It should be noted that all figures mentioned above, according to Consolidated financial statements published on the bank’s official website.