ADCB boosts its financial investment by September 2022 end

11/7/2022 9:26:49 AM

Abu Dhabi Commercial Bank-Egypt announced that its assets portfolio grew by 51.57% reaching EGP 73.294 billion at the end of September 2022, compared to EGP 48.356 billion at the end of 2021, according to the bank latest financial results.

With regards to ADCB investment trends in 9 month; it seems that bank worked on downsizing its investments into loans, which is reflected in the decline of its total loans portfolio to 39.17% at the end of September 2022, compared to 43.89% at the end of 2021.

The bank has significantly boosted its financial investments which increased to 38.68% of its total assets by the end of September 2022, compared to 33.63% by the end of 2021.

However, balances with banks accounted for about 12.33% of the bank’s total assets at the end of September 2022, compared to 11.68% at the end of 2021.

ADCB’s investing trends put by El-Sewerky, the managing director and CEO, has pushed it towards achieving strong growth rates in and posting a significant jump in terms of its net profits.

In addition, the bank’s total loans portfolio increased by 35.27% posting 28.71 billion pounds at the end of Q3\2022, compared to EGP 21.22 billion at the end of 2021 with an increase of EGP 48.36 billion

Furthermore, ADCB’s deposit portfolio jumped to 65.57 billion pounds at the end of September 2022, compared to EGP 41.11 billion at the end of December 2021, achieving a growth rate of 59.54% and an increase of 24.48 billion pounds.

Moreover, the financial investment portfolio jumps 74.31% to rise from EGP 16.26 billion at the end of 2021 to EGP 28.35 billion at the end of last September, achieving an increase of 12.09 billion pounds.

In addition, its net profit jumped by 86.17% recording 705.23 million pounds during the first 9 months of this year, compared to 378.81 million pounds during the same period in 2021, achieving an increase of 326.412 million pounds.

To learn more about Abu Dhabi Commercial’s achievements and indicators during 2022, and its latest news, click here.