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Egypt's pound notes are pictured in stacks of 100 as employees count money at an exchange office in downtown Cairo June 5, 2014. Amr Abdallah Dalsh
First Abu Dhabi Bank Misr (FABMISR) achieved a net profit of EGP 15.8 billion in the first half (H1) of 2024, up by 139% year on year (YoY), according to an emailed press release.
The bank’s net loans and advances amounted to EGP 121.2 billion in July, rising by 40% compared to December 2023.
Total assets hit EGP 429.9 billion at the end of June, marking a 46% increase compared to December 2023.
Customers' deposits grew by 39% to EGP 278.7 billion, compared to December 2023.
Meanwhile, the bank’s net interest income reached EGP 14.6 billion, jumping by 116%.
As for net fees and commissions income, it grew by 30% YoY to EGP 1.3 billion.
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