ADCB Egypt achieves a breakthrough in financial efficiency indicators At 9M-2023

Abu Dhabi Commercial Bank – Egypt “ADCB” has achieved a significant development in its financial efficiency indicators during the first 9 months of the current year.

 This comes in light of the bank’s continued strong performance since the launch of Abu Dhabi Commercial Bank in Egypt in 2020, under the leadership of Ihab El Sewerky, Executive Board Member and CEO of the bank.

The following analysis reviews the bank’s progress in financial efficiency indicators from January to September 2023:

The financial statements of Abu Dhabi Commercial Bank – Egypt “ADCB,” ending on September 30, 2023, reveal that the bank achieved a return on average equity of 16.95% during the first 9 months of 2023, compared to 10.73% during the same period in 2022.

The bank managed to increase its return on average assets to 1.51% during the first 9 months of 2023, compared to 1.16% during the first 9 months of 2022.

The main reason for the increase in return on equity and return on assets at ADCB is attributed to the bank’s net profits of EGP1.307 mn during the first 9 months of 2023, compared to EGP 705.2 mn during the same period in 2022, marking a growth rate of 85.4%.

In terms of earnings per share, Abu Dhabi Commercial Bank – Egypt recorded a growth of 78.26%, with the bank’s share of net profits reaching around EGP1.23 per share during the first 9 months of 2023, compared to EGP0.69 during the same period in 2022.

It is worth mentioning that the bank achieved growth in its equity portfolio by 18.66%, with an increase of EGP1.316 bn during the first 9 months of the current year, reaching EGP8.370 bn by the end of September 2023, up from EGP7.054 bn at the end of December 2022.

Additionally, the bank's asset portfolio increased by a growth rate of 1.36%, with an increase of EGP 1.186 bn during the first 9 months of the current year, reaching EGP87.339 bn by the end of September 2023, compared to EGP 86.171 bn at the end of December 2022.