ADCB-Egypt’s net profits jump by 162% during H1- 2024, recording EGP 2.14 bn
First Bank
The financial statement of Abu Dhabi Commercial Bank - Egypt, ending on June 30, 2024, revealed an increase in the bank’s net profit, with a growth rate of 161.80%, to record EGP 2.138 bn during the first 6 Months of 2024, compared to EGP 816.8 mn during the same period of 2023, an increase of EGP 1.322 bn.
ADCB-Egypt’s pre-taxes profits rose to reach EGP 3.119 bn during the first 6M of 2024 compared EGP 1.404 bn during the same period of 2023, achieving a growth rate of 122.12%, and an increase of EGP 1.715 bn.
The bank’s total assets increased with a growth rate of 17.35% during 6M-2024, to record EGP 115.08 bn at the end of June 2024, compared to EGP 98.06 bn at the end of December 2023, With an increase of EGP 17.01 bn.
Total loans and facilities to customers increased by 17.91% during 6M-2024, to reach EGP 44.56 bn at the end of June 2024, compared to EGP 37.79 bn at the end of December 2023, With an increase of EGP 6.77bn.
Moreover, the bank’s total deposit portfolio increased by a growth rate of 14.18% during the first 6 Months of 2024, after the bank was able to increase its deposits by EGP 12.28 bn, recording EGP 98.92 bn at the end of June 2024, compared to EGP 86.64 bn at the end of December 2023.
