ADIB Egypt sees 51% higher consolidated profits in 2022

Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) generated consolidated net profits after tax worth EGP 2.18 billion in 2022, an annual leap of 51% from EGP 1.45 billion.

The interest income enlarged by 37.80% year-on-year (YoY) to EGP 4.82 billion during the January-December 2022 period from EGP 3.50 billion, according to the financial results.

Furthermore, the clients’ deposits hit EGP 97.61 billion in 2022, higher by 29% than EGP 75.67 billion in 2021.

Standalone Income Statements

ADIB Egypt’s standalone net profit after tax reached EGP 2.12 billion last year, up 54% from EGP 1.37 billion during the 12-month period that ended on 31 December 2021.

Non-consolidated interest income climbed by 37.60% to EGP 4.73 billion in 2022 from EGP 3.43 billion in 2021, while the basic earnings per share (EPS) increased by 24.70% to EGP 7.61 from EGP 6.10.

Meanwhile, the clients’ deposits surged by 28.90% YoY to EGP 97.74 billion in 2022 from EGP 75.80 billion.

In the first nine months (9M) of 2022, the EGX-listed bank recorded a hike in consolidated net profit to EGP 1.58 billion, compared to EGP 1.06 billion in 9M-21.