ADCB posts a sturdy jump of 86.2% in net profits in 9 Months

Abu Dhabi Commercial Bank – Egypt announced that it has seen a significant growth in its net profits which rose by 86 % at the end of the first quarter to reach 705 million Egyptian pounds compared to 378 million Egyptian pounds in the comparable period of 2021.

The bank has recorded strong performance indicators in all sectors, reflecting the success of business management and the bank’s plans for growth and development which pushed Abu Dhabi Commercial Bank to be on top of the lists of the fastest growing banks in Egypt.

This increase came as a result of a balanced growth on the level of all activities and business sectors that worked to meet the customers’ needs.

The bank’s total loans portfolio increased by 35.02%, to record 30.097 billion pounds at the end of last September, compared to 22.290 billion pounds at the end of 2021 with an increase of 7.806 billion.

The bank was able to increase its deposit portfolio by 24.5 billion pounds during the first 9 months of 2022 jumping by 59.49 %. The deposit portfolio recorded 65.57 billion pounds at the end of September 2022, compared to 41.11 billion pounds at the end of December 2021.

ADCB also achieved an increase in total assets with a growth rate of 51.457%, to reach 73.9 billion pounds during the first 9 months of 2019, compared to 48.36 billion pounds at the end of December 2021.