ADIB’s net profits jump 124.5%, recording EGP3.56 bn during 9M-2023

The consolidated financial statements of Abu Dhabi Islamic Bank – Egypt, announced a short while ago on the official website of the Egyptian Stock Exchange, revealed an increase in the bank’s net profits by 124.5%, to record EGP3.56 bn during the first 9 months of 2023, compared to EGP 1.85 bn during the same period of 2022, an increase of EGP1.97 bn.

The bank’s pre-tax profits jumped by a growth rate of 102.5% by an increase of EGP2.51 bn, to record EGP4.95 bn during the first 9 months of 2023, compared to EGP2.45 bn during the same period of 2022.

The bank’s total assets increased by 27.21% during the first 9 months of the current year, to record their value of EGP148.61 bn by the end of September 2023, compared to EGP116.83 bn by the end of December 2022, an increase of EGP31.79 bn.

The bank’s total customer deposit portfolio rose by a growth rate of 18.02% during the first 9 months of the current year, after the bank was able to increase its deposits by EGP 17.59 bn, to record EGP151.20 bn by the end of September 2023, compared to EGP97.61 bn by the end of December 2022.

The total financing and facilities of customers also increased by a growth rate of 9.59% during the first 9 months of the current year, by an increase of EGP5.60 bn, to reach EGP65.08 bn by the end of September 2023, compared to EGP 59.38 bn by the end of December 2022.