ADCB Egypt achieves strong performance in its financial Efficiency indicators during 2023
First Bank
Abu Dhabi Commercial Bank – Egypt “ADCB” has achieved progress in its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators during 2023.
The separate financial statements of ADCB Egypt, ending on December 31 2023, revealed that the bank achieved a return on average equity (ROE) of 25.14% during 2023, compared to 15.82% during 2022.
The return on average assets of the bank was 2.22% during the last year, compared to 1.58% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 92.1%, reaching EGP 5.142 bn during 2023, compared to EGP 2.047 bn during the same period in 2022, an increase of EGP 982 mn.
In terms of earnings per share, the bank recorded a growth rate of 80.95% during 2023, with the bank's share of net profits reaching about EGP 1.90 per share during the 2023, compared to EGP 1.05 during 2022.
It is worth mentioning that the bank achieved a growth of 31% in its Equity portfolio during 2023, as it increased from EGP 7.05 bn at the end of December 2022 to EGP 9.23bn at the end of December 2023 an increase of EGP 2.18 bn.
The bank's asset portfolio also surged by 14% during the last year, reaching EGP 98.06 bn at the end of December 2023, compared to EGP 86.17 bn at the end of December 2022, an increase of EGP 11.89 bn.
