How ADIB customer deposit portfolio distributed among different currencies

The consolidated financial statements of Abu Dhabi Islamic Bank (ADIB) showed an increase in customer deposit portfolio by approximately 13.20% during the first half of the current year, reaching EGP110.50 bn by the end of June 2023, compared to EGP97.61 bn by the end of 2022, with an increase of EGP12.89 bn.

When it comes to the details of ADIB customer deposits in different currencies, the portfolio in the local currency had the highest relative weight, accounting for 78.64% by the end of the first half of 2023.

Customer deposits in Egyptian pounds increased to EGP86.90 bn by the end of June 2023, compared to EGP80.40 bn by the end of 2022, with a growth rate of 8.08% and an increase of EGP6.5 bn.

As for customer deposits in foreign currencies, they surged by 37.12%, reaching the equivalent of EGP23.6 bn by the end of June 2023, compared to the equivalent of EGP17.21 bn by the end of 2022, with a growth rate of 37.12% and an increase of EGP6.39 bn.

ADIB's customer deposits in foreign currencies constituted approximately 21.36% of the total customer deposits by the end of June 2023.

Regarding the details of the growth of deposits in each foreign currency individually, deposits in the US dollar were the largest in size among its foreign currency deposits, jumping to the equivalent of EGP2 bn by the end of the first half of 2023, compared to the equivalent of EGP 1.48 bn by the end of 2022, with a growth rate of 36.01% and an increase of EGP 5.31 bn.

Meanwhile, customer deposits in pound sterlling experienced the fastest growth during the first half of the current year, increasing by approximately 113.02% to reach the equivalent of EGP176.80 mn by the end of June 2023, up from the equivalent of EGP83 mn by the end of 2022, with an increase of EGP93.80 mn.

As for ADIB's customer deposits in Euro, they rose to the equivalent of EGP2.64 bn by the end of June 2023, compared to the equivalent of EGP 1.81 bn by the end of 2022, with a growth rate of 45.37% and an increase of EGP823.26 mn.

Regarding customer deposits in the Japanese yen, they amounted to the equivalent of EGP 3.78 mn by the end of the first half of 2023, while the portfolio of deposits in other currencies reached the equivalent of EGP707.49 mn by the end of the same period.

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