ADIB posts 93% YoY consolidated profit increase in 2024, nods to capital hike
Updated 2/9/2025 10:13:00 AM
Arab Finance: The net profits attributable to the shareholders of Abu Dhabi Islamic Bank (ADIB Egypt) hit EGP 9 billion in 2024, an annual jump of 93% from EGP 4.673 billion, according to the financial results released on 9th February.
Basic earnings per share (EPS) increased to EGP 14.02 in 2024 from EGP 8.67 in 2023, while the net income hiked to EGP 15.252 billion from EGP 8.924 billion.
Total assets surged to EGP 260.467 billion in the 12-month period that ended on December 31st, 2024, compared to EGP 162.254 billion a year earlier.
As for the standalone business, the net profits climbed to EGP 8.827 billion at the end of December 2024 from EGP 4.490 billion in 2023.
On February 6th, the bank's board members approved increasing the issued and paid-up capital from EGP 6 billion to EGP 12 billion by distributing bonus shares.
Moreover, the board also agreed to raise the authorized capital from EGP 10 billion to EGP 20 billion.
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