ADIB registers 13% profit decline

Abu Dhabi Islamic Bank- Egypt (ADIB) reported a 13% Year on Year decline in its consolidated net profit

  

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 15th financial 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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