Abu Dhabi Commercial Bank Egypt net profit climbs 42% at June-end

Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt), part of Abu Dhabi Commercial Bank, reported on Sunday a 42 percent year-on-year growth in net profit after tax at the end of June of 2022.

Net profit after tax stood at 506.87 million Egyptian pounds ($26.5 million) at the end of June 2022, up from 357.56 million pounds at the end of June 2021.

Pretax profits also surged 53.1 percent year-on-year to 768.93 million pounds at the end of June 2022, from 502.28 million pounds in the same period last year.

Total assets climbed by 33.7 percent year-on-year to 64.651 billion pounds at the end of June 2022, from 48.356 billion pounds at the end of December 2021. Customers’ deposits grew 39.1 percent to 57.185 billion pounds at June 2022-end from 41.109 billion pounds at December 2021-end.