ADIB registers profits in Q1

This marked a Year on Year (YoY) rise of 43%

  

ArabFinance: Abu Dhabi Islamic Bank-Egypt (ADIB) posted a consolidated net profit before minority interest of EGP 328.222 million in quarter one (Q1) 2021, according to the company’s May 11thfinancial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 43% when compared to EGP 230.185 million in Q1 2020.

Standalone net profit reached EGP 318.369 million in Q1 2021, a 40% increase from EGP 228.049 million posted in the prior-year period.

The listed bank announced that its assets increased by 22.5% Year on Year to EGP 73.9 billion in 2020, compared to EGP 60.3 billion in 2019, CEO and Managing Director Mohamed Aly said.

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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