ADCB Egypt’s loans to deposit ratio increased to 46.1% by March 2024end

The financial statements of ADCB Egypt, ending on March 31 of the current year, revealed an increase in loans to deposits ratio, recording 46.1% by the end of March 2024, compared to 43.6% by the end of December 2023.

The bank experienced development in its key indicators, with the deposit portfolio growing at a rate of 8%, reaching a value increase of around EGP 6.8bn in the first 3 months of the current year, totaling EGP 93.5 bn by the end of March 2024, compared to EGP 86.6 bn by the end of December 2023.

The bank increased credit issuance to its customers by approximately EGP5.3bn during the first quarter of the current year, Total financing and facilitation for customers reaching EGP 43.1 bn by the end of March 2024, compared to EGP 37.8 bn by the end of December 2023.

On the financial position front, the bank achieved a growth rate of 10%, with an increase of EGP 9.7bn during the first 3 months of the current year, recording total assets around EGP 107.8 bn by the end of March 2024, compared to EGP 98.1 bn by the end of December 2023.

ADCB Egypt’s net profits surged by 161%, with an increase of EGP560.6mn, registering EGP 909.7 mn during Q1- 2024, compared to EGP 349.1 mn during the same period of 2023.