Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) recorded consolidated net profits valued at EGP 3.55 billion in the first nine months (9M) of 2023, an annual leap from EGP 1.58 billion.
Net income from funds amounted to EGP 6.24 billion during January-September 2023, up year-on-year (YoY) from EGP 3.43 billion, according to the consolidated interim financial statements.
Basic earnings per share (EPS) reached EGP 6.69 as of 30 September 2023, versus EGP 6.79 a year earlier.
Total assets hiked to EGP 148.61 billion in 9M-23 from EGP 116.82 billion as of 31 December 2022.
Standalone Business
ADIB Egypt generated EGP 3.42 billion in non-consolidated net profit after tax during 9M-23, higher YoY than EGP 1.54 billion.
The bank’s net income from funds hit EGP 6.14 billion in the nine-month period that ended on 30 September 2023, compared to EGP 3.28 billion in 9M-22. Meanwhile, the standalone basic EPS went up to EGP 6.69 from EGP 6.68.
Financials for Q3-23
In the third quarter (Q3) of 2023, the bank posted consolidated net profits from continuous operations worth EGP 1.38 billion, versus EGP 566.15 million in Q3-22.
The net income from funds widened to EGP 2.34 billion in Q3-23 from EGP 1.29 billion a year earlier, while the basic EPS declined to EGP 2.36 from EGP 2.51.
Standalone net profits after tax soared to EGP 1.33 billion in July-September from EGP 569.59 million in Q3-22, whereas the net income from funds climbed to EGP 2.31 billion from EGP 1.23 billion.
During the first half (H1) of 2023, the EGX-listed lender registered consolidated and standalone net profits after tax valued at EGP 2.16 billion and EGP 2.08 billion, respectively.
