El Sewerky led ADCB to record over the top growth rates in just two years

Abu Dhabi Commercial Bank Egypt (ADCB-Egypt) has wrapped up its first two years in the Egyptian market with achieving strong growth in all its financial indicators to become the fastest growing bank.

Its Managing Director & CEO, Ihab El Sewerky has designed a plan to place ADCB Egypt at the forefront of distinguished banks in the Egyptian market. The bank’s strategy depends on an integrated plan that works on several axes to make a real impact on its customers, employees, shareholders and society.

The bank works upon transferring the expertise and experience of the Abu Dhabi Commercial Bank Group in the UAE. The Group is the third-largest banking entity in the UAE and one of the most important banks in the Gulf region. It also occupies a place at the forefront of Arab banks with its innovative digital banking services.

EL Sewerky’s investments plan is focused on improving quality of ADCB’s assets with a slight balance between loans and financial investments. Under his leadership the bank worked on downsizing the size of its loans portfolio significantly. The loans to assets ratio has decreased from 47.7% by the end of 2020 to 39.17% by the end of September. Despite the decrease in the ratio, the loans portfolio constitutes the highest relative weight of the bank’s total assets portfolio.  

ADCB’s investment trends towards financial investments also declined slightly to stand at 38.68% of the bank's total assets at the end of September 2022, compared to 39.41% at the end of June 2020.

Loans to deposits ratio has also decreased from 60.38% at the end of June 2020 to 45.90% at the end of the third quarter of 2022. However, the financial investments to deposits ratio declined to 43.23% at the end of September 2022, compared to 47.10% at the end of June 2020.

As for the bank's assets quality, it was able to significantly reduce the non-performing loans ratio from 7.6% at the end of June 2020 to 5.4% at the end of the third quarter of 2022.

In addition, the bank’s net profit increased by about 91% in 9M-22, compared to the same period in 2020 standing at 705 million pounds at the end of last September.

The return on average assets, measures the bank’s efficiency in investing its assets, recorded 1.16% in the first 9 months of 2022, while the return on equity reached 10.73% during the same period.

El Sewerky investment thoughts have enhanced the growth of the bank’s financial portfolios since entering the Egyptian market in August 2020. The bank’s asset portfolio increased by about 145.32%, to record 73.294 at the end of last September, compared to 29.877 at the end of June 2020, an increase of 43.417 billion pounds.

Moreover, ADCB’s loans portfolio increased from EGP15.096 billion pounds at the end of June 2020 to EGP30.097 billion at the end of September 2022 achieving a growth rate of 99.37%, and an increase of EGP15.001 billion.

The financial investment portfolio jumped by 140.72% standing at EGP28.347 billion pounds at the end of the third quarter of 2022, compared to 11.776 billion pounds at the end of June 2020 with an increase of 16.571 billion pounds.

Furthermore, the bank’s deposit portfolio has also seen leap increasing by 162.26% to stand at EGP65.568 billion at the end of September 2022, compared to EGP 25.001 billion at the end of June 2020 with an increase of EGP40.567 billion.

Abu Dhabi Commercial Bank Egypt (ADCB-Egypt) has won five prestigious awards and its Managing Director & CEO, Ihab El Sewerky, was granted the award of ‘CEO of the Year 2021.’

 The British magazine, Global Business Outlook, awarded ADCB Egypt “The Fastest Growing Digital Bank in 2021. Furthermore, the prestigious  Digital Banker association awarded ADCB Egypt four awards for excellence in the Middle East and Africa retail banking sector; ‘Best Digital Transformation Program,’ Outstanding IT Transformation,’ ‘Best Financial Inclusion Initiative,’ and ‘Best Graduate Employment Program.’

At the Digital Banker Middle East and Africa Awards for Innovation in Retail Banking, CEO and Managing Director of ADCB Egypt, Ihab El Sewerky, was also awarded the ‘ CEO of the Year 2021.’