Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) registered EGP 6.80 billion in consolidated net profit during the first nine months (9M) of 2024, versus EGP 3.55 billion in 9M-23.
Net income from funds amounted to EGP 11.03 billion in January-September 2024, an annual hike from EGP 6.24 billion, according to the financial results.
Basic earnings per share (EPS) increased to EGP 10.80 in 9M-24 from EGP 6.78 in 9M-23.
Total assets jumped to EGP 239.32 billion as of 30 September 2024 from EGP 162.25 billion at the end of December 2023. The customers’ deposits enlarged to EGP 183.99 billion from EGP 127.03 billion.
Standalone Results
Non-consolidated net profit after tax hit EGP 6.65 billion in 9M-24, up year-on-year (YoY) from EGP 3.42 billion.
The net income reached EGP 10.84 billion in 9M-24, higher than EGP 6.14 billion in 9M-23. Meanwhile, the basic EPS grew to EGP 10.86 from EGP 6.78.
Financials for Q3-24
In the third quarter (Q3) of 2024, the bank’s consolidated net profits climbed to EGP 2.22 billion from EGP 1.38 billion in Q3-23, while the net income hiked to EGP 3.98 billion from EGP 2.34 billion.
As for the separate results, the net profits enlarged to EGP 2.16 billion from EGP 1.33 billion, whereas the net income climbed to EGP 3.91 billion from EGP 2.31 billion.
As of 30 June 2024, ADIB Egypt generated higher consolidated net profits at EGP 4.57 billion, compared to EGP 2.16 billion a year earlier.
