Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) posted higher consolidated net profits at EGP 9.01 billion at the end of December 2024, compared to EGP 4.67 billion in 2023, according to the financial results.
Basic earnings per share (EPS) climbed to EGP 14.02 last year from EGP 8.67 in 2023, while the net income hiked to EGP 15.25 billion from EGP 8.92 billion.
Total assets enlarged to EGP 260.467 billion in the 12-month period that ended on 31 December 2024, versus EGP 162.254 billion in 2023. Customers’ deposits grew to EGP 199.98 billion from EGP 127.03 billion.
Standalone Financials
The standalone net profits climbed to EGP 8.82 billion at the end of December 2024 from EGP 4.49 billion in 2023, while interest income jumped to EGP 14.98 billion from EGP 8.78 billion.
Non-consolidated basic EPS increased to EGP 14.02 last year from EGP 8.67 in 2023.
Capital Hike
The board members agreed to raise the issued and paid-up capital from EGP 6 billion to EGP 12 billion by distributing free shares valued at EGP 6 billion. The increased amount will be disbursed over 600 million shares at a nominal value of EGP 10 per share.
They also approved increasing the bank’s authorised capital from EGP 10 billion to EGP 20 billion.
At the end of September 2024, ADIB Egypt generated consolidated net profits worth EGP 6.80 billion, while the standalone net profit after tax hit EGP 6.65 billion.
