ADIB-Egypt tops fastest-growing listed banks in deposits after exchange rate neutralization during 9M-2024

Abu Dhabi Islamic Bank (ADIB) - Egypt's deposit portfolio saw remarkable growth during the year, prompting it to top the First Bank list of fastest growing banks in customer deposits after the exchange rate was neutralized during the first 9 months of 2024, after achieving a growth rate of 29.78%.

As for the growth of customer deposits before the neutralization of the exchange rate, it rose by 44.91% in the first 9 months of this year, reaching EGP 184.217 bn by the end of September 2024, compared to EGP 127.127 bn by the end of 2023, an increase of more than EGP 55 bn.

Overall, Abu Dhabi Islamic Bank (ADIB) 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, an increase of EGP 3.231 bn.

The 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.

In terms of total bank 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.

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