Greater Cairo Tops ADCB Egypt's Geographical Sectors in Net Profits for H1-2023
First Bank
Abu Dhabi Commercial Bank – Egypt has achieved record profits during the current year, as its net profits jumping to EGP 816.83 bn in the first half of 2023 compared to EGP 506.88 bn during the same period in 2022, representing a growth rate of 61.15% and an increase of EGP 309.96 mn.
Analyzing the geographic sectors of the bank's net profits, we found that Greater Cairo was the most successful in generating net profits during the current year, as reaching EGP 575.93 mn in the first half of 2023, compared to EGP 392.32 mn during the same period in 2022, with an increase of EGP 183.62 mn.
Greater Cairo accounted for the vast majority of ADCB Egypt's net profits, making up 70.51% during the first half of 2023.
Meanwhile, net profits from the Alexandria, Delta regions saw the fastest growth, jumping by 114.68% to record EGP 225.996 mn during the first half of 2023, compared to EGP 105.27 mn during the same period in 2022, with an increase of EGP 120.72mn.
Alexandria region accounted for 27.67% of ADCB Egypt's net profits during the first half of 2023.
Net profits from Upper Egypt, increased by approximately 60.45%, reaching EGP 14.90 mn during the first half of 2023, compared to EGP 9.29 mn during the same period in 2022, with an increase of EGP 5.62 mn.
Upper Egypt regions contributed to a very small percentage of ADCB Egypt's net profits, accounting for only 1.82% during the first half of 2023.
