Abu Dhabi Commercial Bank Egypt says Q3 pretax net profit hikes 65%

Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt), part of Abu Dhabi Commercial Bank, reported on Monday a 65 percent year-on-year hike in net profit before taxes and appropriations at the end of September.

Net profit before taxes and appropriations recorded 1.528 billion Egyptian pounds ($63.2 million) for the third quarter of the year, the bank said in a statement. Net profit also made a 87 percent year-on-year rise.

Total assets surged by 52 percent year-on-year to 73.3 billion pounds at the end of September 2022.