Cairo – Mubasher: The consolidated net profits after tax of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) hit EGP 2.16 billion in the first half (H1) of 2023, higher than EGP 1.01 billion a year earlier.
The net income from funds enlarged to EGP 3.89 billion in H1-23 from EGP 2.14 billion in H1-22, according to the interim consolidated financial results.
Earnings per share (EPS) stood at EGP 4.33 in the first six months (6M) of 2023, versus EGP 4.28 in 6M-22.
Total assets amounted to EGP 139.17 billion as of 30 June 2023, while the clients’ deposits reached EGP 110.50 billion.
Standalone Business
The lender logged standalone net profits after tax valued at EGP 2.08 billion in H1-23, up year-on-year (YoY) from EGP 972.20 million.
Non-consolidated net income from funds climbed YoY to EGP 3.83 billion in the January-June 2023 period from EGP 2.04 billion.
Financial Results for Q2-23
ADIB Egypt posted a YoY hike in consolidated net profit after tax to EGP 1.16 billion during the second quarter (Q2) of 2023, compared to EGP 572.59 million.
The net income from funds income surged to EGP 2.08 billion in Q2-23 from EGP 1.17 billion in Q2-22, while the EPS retreated to EGP 2.21 from EGP 2.41.
As for the standalone financials, the net profits soared to EGP 1.11 billion in April-June 2023 from EGP 548.30 million, whereas the net income from funds widened to EGP 2.06 billion from EGP 1.09 billion. Meanwhile, the EPS went down to EGP 2.30 from EGP 2.51.
In Q1-23, the EGX-listed bank recorded 126.60% YoY higher consolidated net profit after tax at EGP 1 billion, compared with EGP 444.29 million.
