ADIB Egypt corporate deposits grow by 23%, reaching EGP 59.3 bn by Sep-2023 end

The Consolidated financial statements of Abu Dhabi Islamic Bank, ending on September 30th, 2023, revealed that corporate deposit portfolio of ADIB rose with a growth rate of 23% during the first 9M of the last year, reaching EGP 59.3 bn by the end of September 2023 Compared to EGP 48.2 bn by the end of December 2022.

 corporate deposits portfolio has taken hold of 51.45% share of the total deposit portfolio during the first 9M- 2023.

Total retail deposit portfolio surged by 13.2% during the first 9M of the last year. To record EGP 55.9 bn by the end of September 2023, compared to EGP 49.4 bn at the close of December 2022, accounts for 48.55% of the bank's deposit portfolio.

ADIB's total customer deposit portfolio grew by 17.3% representing an increase of EGP 17.6 bn during the first 9M of the last year. To record EGP 115.2 bn by the end of September 2023, up from EGP 97.6 bn at the end of December 2022.

The escalation in the overall customer deposit portfolio can be attributed to EGP 11.1 bn surge in corporate deposits during the first 9M of 2023. Additionally, retail deposits increased by EGP 6.5 bn during the same period.

Demand deposit portfolio expanded significantly, witnessing a growth rate of 29.4% with an increase of EGP 8.6 bn during the first 9M-2023 reaching EGP 39.9 bn by the end of September 2023, up from EGP 29.3 bn at the end of December 2022.

Furthermore, the portfolio of savings and Deposit Certificates increased by 19.1% during the first 9 months of 2023 rising from EGP 27 bn at the end of December 2022 to EGP 32.1 bn at the end of September 2023.