ADIB-Egypt’s resource employment rate rose to 77.47% by the end of March, 2024
First Bank
ADIB-Egypt's combined financial statements for the financial period ended March 31, 2024, revealed a rise in its resource employment rate to 77.47% by the end of Q1 of this year, compared to 71.60% by the end of 2023.
This indicator, launched by the Research Centre of First Bank, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.
The significant increase in the Bank's resource employment rate during Q1 of 2024 reflects ADIB’s expansion policy towards the employment of its resources during this period. But despite this, the Bank's policy has tended to be cautious in employing its resources in general. As this rate has moved away from the overall average resource employment rate of the banking sector as a whole, which recorded about 96.57% by the end of 2023, according to the latest data of the Central Bank of Egypt
The bank was able to employ EGP 123.4 bn from its traditional resources, which recorded EGP 159.3 bn by the end of March 2024 in both loans and financial investments, with EGP 37.8 bn for financial investments, and EGP 85.6 bn for total customer loans.
While the Bank employed EGP 101.2 bn of its traditional resources, which recorded EGP 141.4 bn by the end of 2023 in loans and financial investments, with EGP 33.8 bn for financial investments, and EGP 67.4 bn for total customer loans.
In terms of the distribution of traditional resources of the Bank, the value of the customer deposit portfolio recorded EGP 143.2 bn, while the total equity reached EGP 16.1 bn by the end of March 2024
The Bank's deposit employment rate for granting loans increased to 59.76% by the end of March 2024, compared to 53.06% by the end of 2023.
While the deposit employment rate for financial investments fell marginally to 26.39% by the end of Q1 of this year, compared to 26.64% by the end of 2023.
For more details about Abu Dhabi Islamic Bank and its achievements, click more
