ADCB enhances its financial soundness in 9M, minimizes non-performing loans

On financial soundness index, the Abu Dhabi Commercial Bank has recoded capital adequacy ratio of 17.3% at the end of September 2022 exceeding the regulatory limits set by the Central Bank of Egypt which are consistent with Basel Accord of 12.5.

Such improvement was manifested in the decrease in the ratio of non-performing loans to total loans to a record level and the continued recording of high provision coverage ratio for non-performing loans.

However, ADCB’s financial leverage ratio recorded 7.72 % at the end of September 2022 which reflected the relation between tier I used in capital adequacy ratio and the bank’s non-risk-weighted assets exceeding the regulatory limits set by the Central Bank of Egypt which is consistent with Basel Accord of 3 %.

In addition, ADCB was able to achieve record profit rates which  jumped by 86.17%, to record EGP705.22 million during 9M, compared to EGP378.81 million pounds during the same period in the previous year, an increase of 326.41 million pounds.

This was reflected on the profits per share, which rose to 10.73%pounds per share during 9M, compared to 1.17 pounds per share during the same period in the previous year.

The bank has succeeded in controlling the credit risk resulting from loans, facilities and debt instruments continued, as the ratio of non-performing loans to total loans decreased to 5.4% by the end of September 2022, compared to 6.2% by the end of 2021.