ADIB Egypt strengthened its assets to records the fastest quarterly growth in 5 years
First Bank
The combined financial statements of Abu Dhabi Islamic Bank showed a significant growth rate in the size of its assets, with its portfolio jumping by 27.2% during the first 9M of this year, reaching EGP 148.6 bn by the end of September 2023, compared to EGP 116.8 bn by the end of 2022, with an increase of EGP 31.8 bn, recording the fastest quarterly growth in 5 years.
In terms of growth rates in the past years, during the first 9M of 2019, the Bank achieved a growth of about 14.7% in the size of its assets while making a growth of about 17.3% during the same period of 2020.
As for its performance during the first 9M of 2021, ADIB achieved a 17% growth in its asset size, while recorded an increase of 15.8% during the same period from 2022
Overall, ADIB achieved strong growth rates this year, with net profits rising by 124.5%, to EGP 3.6 bn in the first 9M of 2023, compared to EGP 1.9 bn in the same period in 2022, with an increase of EGP 1.97 bn.
The Bank's deposit portfolio rose by 18% during the first 9 months of this year, after the Bank was able to increase its deposits by EGP 17.6 bn, registering EGP 151.2 bn by the end of September 2023, compared to EGP 97.6 bn by the end of December 2022.
Total customer finance and facilities increased by 9.59% during the first 9 months of this year, an increase of EGP 5.60 bn, to EGP 65.08 bn by the end of September 2023, compared to EGP 59.38 bn by the end of December 2022.
The Bank's customer deposit portfolio rose by 18% during the first 9M of this year, after the Bank was able to increase its deposits by EGP 17.6 bn, registering EGP 151.2 bn by the end of September 2023, compared to EGP 97.6 bn by the end of December 2022.
Total customer finance and facilities increased by 9.59% during the first 9M of this year, with an increase of EGP 5.60 bn, to EGP 65.08 bn by the end of September 2023, compared to EGP 59.38 bn by the end of December 2022.
