ADCB-Egypt's Retail Sector jumps by 54% in 4 years
First Bank
Abu Dhabi Commercial Bank-Egypt has been able to achieve strong growth in the retail banking sector over the past 4 years, specifically since the launch of the ADCB brand in Egypt in 2020, where the bank's loan portfolio jumped by 54.43%, reaching EGP 9.47 bn by the end of June 2024, compared to EGP 6.13 bn by the end of December 2020, with an increase of EGP 3.33 bn.
Highlighting the growth rates achieved over the past years, Abu Dhabi Commercial Bank has achieved the fastest quarterly growth in the retail loan portfolio in the first 6 months of 2021 at a rate of 16.43% after registering the value of retail loans of about EGP 7.14 bn by the end of June 2021, compared to EGP 6.13 bn by the end of December 2020
The portfolio saw the largest increase in the first half of 2024, with a value of EGP 9.47 bn by the end of June, compared to EGP 8.28 bn by the end of December 2023, with an increase of EGP 1.19 bn, and a growth rate of 14.13%.
As for the performance of the Bank's retail banking sector during the first 6 months of 2022, it grew by 9% and an increase of EGP 664 mn, reaching EGP 8.05 bn by the end of June 2022 compared to EGP 7.39 bn by the end of December 2021
Overall, Abu Dhabi Commercial Bank has achieved outstanding results in its key indicators during the first 6 months of this year, with net profits rising at a growth rate of 161 .80%, to score EGP 2.138 bn in the first half of 2024, compared to EGP 817 mn during the same period of 2023, with an increase of EGP 1.322 bn.
In terms of the Bank's financial position, the asset portfolio increased by 17.35% and an increase of EGP 17.01 bn during the first half of this year, registering EGP 115.08 bn by the end of June 2024, compared to EGP 98.06 bn by the end of December 2023
The Bank's deposit portfolio increased by EGP 12.28 bn and a growth rate of 14.18% during the first half of this year, reaching EGP 98.92 bn by the end of June 2024, compared to EGP 86.64 bn by the end of December 2023
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