First Abu Dhabi Bank Egypt Q1 net profit jumps 572%

First Abu Dhabi Bank – Egypt (FAB Egypt) reported on Thursday a 572 percent growth in net profit for the first quarter of the year.

Net profit recorded 4.79 billion Egyptian pounds ($155 million) for the first quarter ended on March 31.

Total deposits also rose to 190 billion pounds at the end of March 2023, around 37 percent up from figures recorded on December 31 last year.

Total assets surged 33 percent to 275 billion pounds.