ADIB Egypt grows by 27% on First Bank composite growth index during Q4- 2023
First Bank
ADIB Egypt's growth slow-down during the Fourth quarter of 2023, recording a compound growth rate of 26.89%, compared to 39.18% during Q3-2023.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q4-2023.
The bank was able to achieve positive results in all sub-indicators (deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, which recorded a growth rate of 84.52% during Q4-2023.
It also achieved a growth in total deposits at a rate of 10.27% during Q4-2023, Total customer loans and asset portfolio contributed to this growth, with a growth rates of 3.57%, 9.18% respectively during Q4- 2023.
At the level of Q3-2023, The bank was able to achieve positive results in all sub-indicators, led by net profit, recorded a growth rate of 144.91% From July to September 2023.
Total Asset portfolio increased by 6.78% during Q3-2023, as well as Total loans and customer deposits rose by 0.80% and 4.25%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to financial statements published on the bank’s official website.
