ADIB registers 13% profit decline

ArabFinance: Abu Dhabi Islamic Bank- Egypt (ADIB) reported a 13% Year on Year decline in its consolidated net profit in the first nine months of 2020, according to the company’s November 15^thfinancial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 843.823 million in the January-September period of 2020, compared to EGP 969.476 million achieved in the prior-year period.

Standalone net profit reached EGP 815.990 million in the January-September period of 2020, a 6.4% decrease from EGP 871.782 million posted in the corresponding period a year earlier.

The bank launched its latest contactless e-payment method Beat through the World Debit MasterCard.

ADIB, formerly National Bank for Development, is an Egypt-based public shareholding company engaged in the provision of retail, corporate, and investment banking services through a network of 69 branches located across Egypt.

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