ADCB grows by 24.2% on FirstBank's composite growth index At 9M-2023

ADCB grew by 24.2% according to FirstBank's composite growth index during the first 9 months of 2023. This rate was measured using a composite index established by First Bank to assess the financial performance of banks across various branches of activity, including net profits, deposit portfolio, loan portfolio, and asset portfolio, from January to September 2023.

The bank achieved positive results in all 4 sub-indices of the First Bank index, with the highest growth recorded in the bank's net profits, increasing by 85.4% to reach EGP1.307 bn during the first 9 months of 2023, compared to EGP705.2 mn in the same period of 2022, with an increase of EGP602.2 mn.

Total loan portfolio of the bank was the second contributor to this growth, increasing by 9.8% with an additional EGP 3.1 bn during the first 9 months of the current year, totaling EGP31.5 bn by the end of September 2023, compared to EGP31.4 bn at the end of December 2022.

Total asset portfolio of the bank also contributed to this growth, ranking third with a growth rate of 1.4% during the first 9 months of the current year, reaching EGP87.3 bn by the end of September 2023, compared to EGP86.2 bn at the end of December 2022, increasing by EGP 1.2 bn.

Total customer deposits portfolio at the bank increased by 0.31% with an additional EGP236 mn during the first 9 months of the current year, totaling EGP75.7 bn by the end of September 2023, compared to EGP75.5 bn at the end of December 2022.