ADIB Egypt's net profits grow by 111%, recording EGP 4.58bn during H1- 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 111.2%, reaching EGP 4.579 bn during the first Half of 2024, compared to EGP 2.168 bn during the same period of 2023, achieving an increase of EGP 2.411 bn.
The bank's pre-tax profit also witnessed a growth rate of 101%, amounting to an increase of EGP 3.123 bn, recording EGP 6.220 bn during the first Half of 2024 compared to EGP 3.097 bn during the same period of 2023.
Total customer finance surged by 33.87%, amounting to EGP 90.23 bn by end of June 2024 compared to EGP 67.40 bn by the end of December 2023. an increase of EGP 22.83 bn.
The bank's total asset portfolio jumped from EGP 162.26 bn at the end of 2023 to EGP 210.76 bn at the end of June 2024, with growth rate of 29.89%, and an increase of EGP 48.50 bn.
The bank’s total deposits grew by 28.50%, with an increase of EGP 36.20 bn during the first Half of the current year, reaching EGP 163.23 bn by June 2024 End, compared to EGP 127.03 bn by the end of 2023.
