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CAIRO, EGYPT - October 12: Portraits of Egyptian Pound notes and coins on October 12, 2016 in Cairo, Egypt. The Egyptian Pound is the currency of Egypt controlled by the Central Bank of Egypt. (Photo by David Degner/Getty Images). Image used for illustrative purpose. Getty Images
Egypt - First Abu Dhabi Bank Misr (FABMISR) has recorded a net profit of EGP 21.3 billion for the third quarter (Q3) of 2024, marking a 160% year-on-year (YoY) surge, as per an emailed press release.
The bank’s net loans and advances increased by 45% to EGP 125.6 billion as of September 2024, compared to the end of December 2023.
Customers' deposits jumped by 26% to EGP 252.2 billion, while total assets rose by 39% to EGP 410 billion at the end of September.
FABMISR also saw substantial growth in its equity, with total shareholders' equity surging by 62%, reaching EGP 54.5 billion.
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