ADIB-Egypt achieves a composite growth rate of 38.56% during H1-2023

According to the consolidated financial statements, ADIB-Egypt achieved a composite growth rate of 38.56% during the first Half of 2023, This growth rate was measured using First Bank composite index, which assesses the financial performance of banks across various branches of activity, including net profits, deposit portfolio, loan portfolio, and asset portfolio, from January to June 2023.

The bank achieved positive results in all four sub-indices of First Bank index. Notably, the net profits of the bank, which contributed significantly to its growth, increased by 113.18% to reach EGP 2.168 bn during the first half of 2023, compared to EGP 1.017 bn during the same period in 2022, marking an increase of EGP1.151 bn.

The bank's asset portfolio also played a significant role in this growth, increasing by 19.13% during the first half of the current year, reaching approximately EGP139.2 bn by the end of June 2023, compared to EGP116.8 bn at the end of December 2022, representing an increase of EGP22.4 bn.

Additionally, Deposit portfolio of ADIB - Egypt contributed to its growth, ranking third with a growth rate of 13.20% and an increase of about EGP 12.9 bn during the first half of the current year, reaching EGP 110.5 bn by the end of June 2023, compared to EGP 97.6 bn at the end of December 2022.

Furthermore, total portfolio of financing and facilities for customers at the bank grew by 8.73% during the first half of the current year, reaching EGP64.6 bn by the end of June 2023, compared to EGP 59.4 bn at the end of December 2022, with an increase of EGP5.2 bn.