ADIB Egypt reports 111.24% YoY climb in H1 consolidated profits
Updated 8/11/2024 9:28:00 AM
Arab Finance: Abu Dhabi Islamic Bank Egypt (ADIB) reported a 111.24% year-on-year (YoY) increase in consolidated profits after tax and non-controlling interests for the first half (H1) of 2024, according to the bank’s financial statements filed to the Egyptian Exchange (EGX) on August 11th.
The bank recorded a consolidated net profit after tax of EGP 4.574 billion in H1 2024, compared to a profit of EGP 2.165 billion in the same half of 2023.
Net interest income rose to EGP 7.042 billion during the January-June period of this year from EGP 3.894 billion in H1 2023.
Meanwhile, the bank’s standalone net profit after tax amounted to EGP 4.491 billion in the six-month period ended June 30th, up from EGP 2.087 million in the year-ago period.
ADIB Egypt is an EGX-listed bank that operates within the provision of retail, corporate, and investment banking services through a network of 69 branches located across Egypt.
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