ADCB-Egypt’s net profits grow by 85.39% during 9M 2023, recording EGP 1.307 bn

The latest financial results of Abu Dhabi Commercial Bank - Egypt, ending on September 30, 2023, revealed an increase in the bank’s net profit, with a growth rate of 85.39%, to record EGP 1.307 bn during the first 9 Months of 2023, compared to EGP 705.224 mn during the same period of 2022, an increase of EGP 602 mn.

ADCB-Egypt’s pre-taxes profits rose to reach EGP 2.177 bn during the first 9M of 2023 compared EGP 1.155 bn during the same period of 2022, achieving a growth rate of 88.5%, and an increase of EGP 1.022 bn.

Total loans and facilities to customers increased by 9.78% during 9M-2023, to reach EGP 34.477 bn at the end of September 2023, compared to EGP 31.404 bn at the end of December 2022, With an increase of EGP 3.073 bn.

The bank’s total assets increased with a growth rate of 1.36% during 9M-2023, to record EGP 87.338 bn at the end of September  2023, compared to EGP 86.170 bn at the end of December 2022, With an increase of EGP 1.168 bn.

Moreover, The bank’s total deposit portfolio increased by a growth rate of 0.31%  during the first 9 Months of 2023, after the bank was able to increase its deposits by EGP 236 mn, recording EGP 75.728 bn at the end of September  2023, compared to EGP 75.492 bn at the end of December 2022.