ADIB Egypt corporate deposits jump by 44%, reaching EGP 69.3 bn by end of 2023
First Bank
The Consolidated financial statements of Abu Dhabi Islamic Bank, ending on December 31, 2023, revealed that corporate deposit portfolio of ADIB rose with a growth rate of 43.85% during the last year, reaching EGP 69.31 bn by the end of December 2023 Compared to EGP 48.2 bn by the end of December 2022.
corporate deposits portfolio has taken hold of 54.65% share of the total deposit portfolio during 2023.
Total retail deposit portfolio surged by 16.77% during the last year. To record EGP 57.72 bn by the end of December 2023, compared to EGP 49.4 bn at the close of December 2022, accounts for 45.44% of the bank's deposit portfolio.
ADIB's total customer deposit portfolio grew by 30.14% representing an increase of EGP 29.42 bn during the last year. To record EGP 127.03 bn by the end of December 2023, up from EGP 97.6 bn at the end of December 2022.
Demand deposit portfolio expanded significantly, witnessing a growth rate of 55.64% with an increase of EGP 16.31 bn during 2023 reaching EGP 45.62 bn by the end of December 2023, up from EGP 29.3 bn at the end of December 2022.
The size of the “time and notice deposits” portfolio Jumps by 28.14%, reaching EGP 34.09 bn by the end of December 2023, compared to EGP 26.60 bn bn by the end of December 2022.
Furthermore, the portfolio of savings and Deposit Certificates increased by 21.87% during 2023 rising from EGP 26.96 bn at the end of December 2022 to EGP 32.86bn at the end of December 2023.
