Cairo – Mubasher: The consolidated net profits after tax of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) hit EGP 4.67 billion in 2023, higher year-on-year (YoY) than EGP 2.18 billion.
The lender generated net income from returns valued at EGP 8.92 billion last year, compared to EGP 4.82 billion in 2022, according to the financial results.
Basic earnings per share (EPS) grew to EGP 8.67 in 2023 from EGP 7.43 a year earlier, while the total assets hiked to EGP 167.25 billion from EGP 116.82 billion.
Standalone Results
Non-consolidated profits reached EGP 4.49 billion last year, versus EGP 2.12 billion in 2022.
ADIB Egypt registered standalone net income from returns amounting to EGP 8.78 billion as of 31 December 2023, up YoY from EGP 4.73 billion.
Capital Hike
The board proposed increasing the bank’s issued and paid-up capital to EGP 6 billion from EGP 5 billion by distributing free shares valued at EGP 1 billion, allocated as 0.20 shares for each share held before the raise.
Additionally, the board recommended hiking the authorised capital to EGP 10 billion from EGP 7 billion.
During January-September 2023, ADIB Egypt logged consolidated net profits worth EGP 3.55 billion, compared to EGP 1.58 billion in the year-ago period.
