Loans to Deposit ratio at ADCB-Egypt soars to 45.53% by September-2023end

The separate financial statements of Abu Dhabi Commercial Bank, which ended on September 30, revealed an increase in the loans to deposit ratio of the bank to 45.53% by the end of September 2023, compared to 41.60% by the end of December 2022.

The bank witnessed a development in its main indicators, as the size of its deposit portfolio increased by a growth rate of 0.31% and by an increase of about EGP 235.79 mn during the first 9 months of the current year, to record EGP75.73 bn by the end of September 2023, compared to EGP75.49 bn by the end of December 2022.

The bank increased the credit granted to its customers by about EGP3.07 bn during the first 9 months of the current year, as the total portfolio of loans and facilities for its customers increased by a growth rate of 9.79%, to reach EGP34.48 bn by the end of September 2023, compared to EGP31.40 bn by the end of December 2022.

On the financial position level, the bank achieved a growth rate of 1.36% by an increase of EGP 1.17 bn during the first 9 months of the current year, as its total assets recorded about EGP87.34 bn by the end of September 2023, compared to EGP86.17 bn by the end of December 30, 2022.

The net profits of Abu Dhabi Commercial Bank jumped by a growth rate of 85.39% and by an increase of EGP602.16 mn, to record EGP 1.31 bn during the first 9 months of 2023, compared to EGP705.22 mn during the same period of 2022.