ADIB Egypt's net profits jump by 110.5%, recording EGP 2.12 bn during Q1- 2024
First Bank
The consolidated financial statements of Abu Dhabi Islamic Bank-Egypt, released on EGX's official website, revealed an increase in its net profits by 110.5%, reaching EGP 2.119 bn during the first quarter of 2024, compared to EGP 1.007 bn during the same period of 2023, achieving an increase of EGP 1.112 bn.
The bank's pre-tax profit also witnessed a growth rate of 96.2%, amounting to an increase of EGP 1.430 bn, recording EGP 2.917 bn during the first quarter of 2024 compared to EGP 1.487 bn during the same period of.
Total customer finance surged by 27%, amounting to EGP 85.59 bn by end of March 2024 compared to EGP 67.40 bn by the end of December 2023. an increase of EGP 18.18 bn.
The bank's total asset portfolio jumped from EGP 162.26 bn at the end of 2023 to EGP 191.04 bn at the end of March 2024, with growth rate of 17.7%, and an increase of EGP 28.79 bn.
The bank’s total deposits grew by 12.74%, with an increase of EGP 18.16 bn during the first quarter of the current year, reaching EGP 143.21 bn by March 2024 End, compared to EGP 127.03 bn by the end of 2023.
