Top profitable geographical sectors for ADCB-Egypt
First Bank
Abu Dhabi Commercial Bank - Egypt, recorded strong performance this year, especially in terms of its net profits, which increased by about 85.39% to reach EGP 1.31 bn during the first 9 months of 2023, compared to EGP705.22 mn during the same period in 2022, with an increase of EGP602.16 mn.
The branches of Abu Dhabi Commercial Bank in the Greater Cairo sectors had the most significant impact on this substantial leap, being the fastest-growing sector, with the bank's net profits reaching EGP 1 bn during the first 9 months of 2023, compared to EGP499.1 mn during the same period in 2022, representing a growth rate of 100.85% and an increase of EGP503.31 mn.
Net profits from the bank's branches in the Greater Cairo sectors constituted about 76.67% of the bank's net profits during the first 9 months of 2023. As for Abu Dhabi Commercial Bank's net profits from Alexandria and Delta sectors, they increased by about 51.17%, reaching EGP286.01 mn during the first 9 months of 2023, compared to EGP189.2 mn during the same period in 2022, with an increase of EGP96.84 mn. Net profits from the bank's branches in Alexandria and Delta regions constituted about 21.88% of the bank's net profits during the first 9 months of 2023. Regarding net profits from Abu Dhabi Commercial Bank's Northern sectors, they increased by about 11.88%, reaching EGP 18.9 mn during the first 9 months of 2023, compared to EGP 16.9 mn during the same period in 2022, with an increase of EGP2 mn.
Net profits from the bank's branches in the Northern regions constituted about 1.45% of the bank's net profits during the first 9 months of 2023.
It is worth mentioning that Abu Dhabi Commercial Bank - Egypt, offers corporate, retail banking, and investment services in Egypt through 50 branches and banking units, employing 1190 employees as of the end of September 2023.
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