Cairo – Mubasher: The financial indicators of Abu Dhabi Islamic Bank Egypt (ADIB) has shown a 113% year-on-year surge in consolidated profits for the first quarter of 2018.

Net profit jumped to EGP 156.7 million in the three-month period ended last March, from EGP 73.7 million in the year-ago period, the bank said in a filing to the Egyptian Exchange (EGX) on Monday.

Net income increased to EGP 566.7 million in Q1-18, versus EGP 456.9 million in the corresponding period last year.

Meanwhile, standalone profits stood at EGP 151.4 million in Q1-18, up from EGP 104.7 million in Q1-17.

ADIB Egypt had achieved EGP 632 million in profits for the full-year ended December 2017, compared to EGP 397 million in 2016.