ADCB-Egypt increases capital to EGP 5.25 bln

Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt) has increased its issued and paid-up capital by 250 million Egyptian pounds to reach 5.25 billion pounds by the end of 2023, Federation of Egyptian Banks reported on Wednesday.

The bank’s assets rose to 98.064 billion pounds at the end of last year, compared to 86.170 billion pounds at the end of 2022. Customer deposits also increased to 86.6 billion pounds, compared to 75.4 billion pounds during the same period.

Customer loans and facilities jumped to 35.9 billion pounds at the end of 2023, compared to 29.78 billion pounds at the same period on 2022.

Th bank achieved pre-tax profits of 3.101 billion pounds at the end of last year, compared to 1.665 billion pounds at the end of 2022, while it recorded net profits of 2.047 billion pounds, compared to 1.065 billion pounds during the period.