ADIB tops fastest-growing listed Bank in syndicated loans during 9M-2024

Abu Dhabi Islamic Bank (ADIB) - Egypt leads First Bank list of the fastest growing listed banks in syndicated loans in the first 9 months of 2024, compared to third place for the same period of 2023.

Its syndicated loans portfolio jumped by 74.24% in the first 9 months of this year, recording EGP 1.385 bn by the end of September 2024, compared to EGP 795.048 mn by the end of 2023

Overall, the Bank achieved a strong performance during this year, jumping its net profit by 94.45%, reaching EGP 6.652 bn in the first 9 months of 2024, compared to EGP 3.421 bn in the same period from 2023, with an increase of EGP 3.231 bn.

The bank's pre-tax profits rose to EGP 9.092 bn during the first 9 months of 2024, compared to EGP 4.792 bn during the same period of 2023, a growth of 89.73% and an increase of EGP 4.3 bn.

Net interest income rose by 76.44% to EGP 10.842 bn in the first 9 months of 2024, compared to EGP 6.145 bn in the same period from 2023

Net fees and commissions income rose to EGP 1.446 bn in the first 9 months of 2024, compared to EGP 1.218 bn in the same period from 2023, with growth of 18.72%

Abu Dhabi Islamic Bank's asset portfolio rose to EGP 237.655 bn by the end of September 2024, compared to EGP 160.646 bn by the end of 2023, a growth of 47.94% and an increase over EGP 77 bn

Customer deposit portfolio jumped to EGP 184.217 bn by the end of September 2024, compared to EGP 127.127 bn by the end of 2023, a growth of 44.91% and an increase of over EGP 55 bn

In terms of total customer loans, it jumped to EGP 95.694 bn by the end of September 2024, compared to EGP 68.408 bn by the end of 2023, with a growth rate of 39.89% and an increase of EGP 27.286 bn