FABMISR’s net profit soars 153% to EGP 26.3bn in 2024

First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, has announced its financial results for the fiscal year ending December 2024. The results demonstrated strong and sustainable growth across all key financial indicators compared to 2023, showcasing the bank’s exceptional performance and its ability to strengthen its position as a key partner in supporting the Egyptian economy. This growth also highlights the bank’s commitment to providing innovative and tailored banking solutions that meet the aspirations of its clients and contribute to their financial goals.

According to the financial statements, the bank achieved significant growth in net profits, reaching EGP 26.3bn in December 2024—a 153% increase compared to 2023. After neutralizing the effect of exchange rate differences during 2024 to assess core business performance, the bank recorded a 136% growth compared to the previous year.

Net loans and advances amounted to EGP 142bn in December 2024, marking a notable 64% increase from 2023. Total customer deposits reached EGP 258.8bn, reflecting a 29% rise, while total assets surged to EGP 412.7bn, representing 40% growth compared to the previous year.