Arab Finance: Abu Dhabi Islamic Bank (ADIB Egypt) posted a 91.48% year-on-year (YoY) increase in its consolidated net profits after tax and non-controlling interest in the first nine months of 2024 to EGP 6.801 billion, compared to EGP 3.552 billion, according to an EGX disclosure on November 10th.
Net interest income went up to EGP 11.031 billion from EGP 6.243 billion in the first nine months of 2023.
For standalone business, the lender registered net profits after tax amounting to EGP 6.652 billion from January through September, compared to EGP 3.422 billion in the same period of last year.
ADIB Egypt is an award-winning bank that started its operations in Egypt after the acquisition of the National Bank for Development (NBD), through the Emirati consortium between Abu Dhabi Islamic Bank and Emirates International Investment Company (EIIC) in 2007.