ADIB Egypt’s financial efficiency indicators evolution At 9M-2023
First Bank
Abu Dhabi Islamic Bank has achieved progress in its financial efficiency indicators during the first 9 months of this year, following its strong performance in financial indicators, especially net profits, throughout the current year. The bank continued its outstanding performance in the Egyptian banking sector.
In terms of financial efficiency indicators, the bank increased the return on equity to 32.23% in the first 9 months of 2023, compared to 20.89% in the same period of 2022. The return on average assets also rose to 2.68%, up from 1.62% in the same period last year.
This growth in both return on equity and average assets is a result of a significant jump in net profits by approximately 124.57%, reaching EGP 3.56 bn by the end of September 2023, compared to EGP 1.58 bn in the same period of 2022.
The bank’s stock saw a 1.47% decline, reaching EGP 6.69 during January to September 2023. Overall, Abu Dhabi Islamic Bank performed well in the first 9 months of 2023, with its asset portfolio increasing by EGP 31.79 bn and a growth rate of 27.21% by the end of September 2023.
The total equity rose by 47.42%, reaching EGP 13.15 bn by the end of September 2023, compared to EGP 8.90 bn at the end of 2022, with an increase of EGP 4.25 bn.
Customer financing also increased by 9.59%, with the total portfolio reaching EGP 65.07 bn by September 2023.
Values are based on the financial statements of Abu Dhabi Islamic Bank for the period ending on September 30 of the current year.
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