First Bank traces Mohamed Aly's journey with ADIB-Egypt

Under Mohamed Aly's executive leadership since November 2017, Abu Dhabi Islamic Bank - Egypt, witnessed significant progress. The bank achieved substantial growth in its main portfolios, as well as strong net profits.  

First Bank's analysis revealed that since Mohamed Ali took charge, Abu Dhabi Islamic Bank successfully strengthened its asset portfolio, reaching EGP 139.18 bn by the end of the second quarter of 2023, compared to EGP 37.42 bn at the end of 2017, with a growth rate of 271.98% and an increase of EGP 101.76 bn.  

This boost elevated the bank's market share to 1.01% of the total banking sector assets by the end of June 2023, up from 0.78% at the end of 2017, adding approximately 0.23% to its market share.  

Mohamed Aly aimed to expand the bank's credit offerings, leading to a significant increase in the bank's total customer financing from EGP 17.1 bn at the end of 2017 to EGP 64.56 bn at the end of the first half of 2023, with a growth rate of 277.62% and an increase of EGP 47.46 bn.  

This move propelled the bank's market share in the financing sector to 1.37% of the total banking sector financing by the end of June 2023, up from 1.18% at the end of 2017, gaining approximately 0.19% in market share.  

Abu Dhabi Islamic Bank's success in attracting institutions to deposit their savings contributed to a 317.45% increase in its customer deposit portfolio, reaching EGP 49.38 bn by the end of the second quarter of 2023, compared to EGP 11.83 bn at the end of 2017, with an increase of EGP 37.55 bn, making the bank the leader in market share in the deposits market among Islamic banks.  

Additionally, the bank's focus on retail banking did not waver, evident from the significant growth in Abu Dhabi Islamic Bank's individual customer financings, which increased from EGP 5.27 bn at the end of 2017 to EGP 15.18 bn at the end of the first half of 2023, with a growth rate of 188.20% and an increase of EGP 9.91 bn.  

Mohamed Ali's efforts also attracted new customer segments to the bank, leading to a remarkable 270.40% increase in the deposit portfolio, reaching EGP 110.5 bn by the end of the second quarter of 2023, compared to EGP 29.83 bn at the end of 2017, with an increase of EGP 80.67 bn.  

The bank complied with the regulatory instructions set by the Central Bank of Egypt regarding issued and paid-up capital, increasing it to around EGP 5 bn by the end of the first half of 2023, compared to EGP 2 bn at the end of 2017, with a growth rate of 150% and an increase of EGP 2 bn, aligning with the Central Bank of Egypt's specified limit of EGP 5 bn.  

Under the strong performance of Abu Dhabi Islamic Bank, led by Mohamed Aly and his team, the bank achieved robust profitability levels. Its net profits jumped by 246.70%, reaching EGP 2.19 bn in 2022, compared to EGP 631.6 mn in 2017, with an increase of EGP 1.56 bn.  

Furthermore, the bank's net profits for the current year surged to EGP 2.17 bn during the first half of 2023, compared to EGP 1.02 bn during the same period in 2022, with a growth rate of 113.17% and an increase of EGP 1.15 bn.  

It is worth noting that the figures provided are based on the consolidated financial statements of Abu Dhabi Islamic Bank - Egypt.