Companies contribute 41.08% to ADIB's net profits during H1-2023

Abu Dhabi Islamic Bank - Egypt continues its strong performance this year, achieving record profits primarily driven by significant growth in individual profits during the first half of 2023.

ADIB's consolidated financial statements revealed a net profit of EGP 2.17 bn during the first half of 2023, compared to EGP 1.02 bn during the same period in 2022, marking a growth rate of 113.17% and an increase of EGP 1.15 bn.

While the bank's net profits came from various banking activities, its net profits from individuals (including current accounts, savings, deposits, credit cards, personal loans, and real estate financing) experienced the most significant growth this year.

The net profits of the bank from retail witnessed a remarkable increase of 266.58%, reaching EGP 593.62 mn in the first half of 2023, compared to EGP 161.93 mn during the same period in 2022, with an increase of EGP 431.69 mn.

ADIB's net profits from retail accounted for approximately 27.39% of the bank's net profits during the first half of 2023.

On the other hand, the net profits from companies (including current accounts, deposits, overdraft accounts, financing, credit facilities, and financial derivatives) were the largest contributors to the bank's net profits, making up about 41.08% of the bank's net profits during the first half of 2023.

Net profits from companies at ADIB increased by about 69.38%, reaching EGP 890.52 mn during the first half of 2023, compared to EGP 525.76 mn during the same period in 2022, with an increase of EGP 364.75 mn.

Regarding the bank's net profits from investments (including corporate mergers, acquisitions, corporate restructuring, and financial instruments), they rose to EGP 461.70 mn during the first half of 2023, compared to EGP 219.09 mn during the same period in 2022, with a growth rate of 110.74% and an increase of EGP 242.62 mn.

ADIB's net profits from investments accounted for approximately 21.30% of the bank's net profits during the first half of 2023.

As for the bank's net profits from other activities (including other banking activities like asset management), they increased to EGP 221.84 mn during the first half of 2023, compared to EGP 110.11 mn during the same period in 2022, with a growth rate of 101.48% and an increase of EGP 111.74 mn.

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