Cairo – Mubasher: Abu Dhabi Islamic Bank Egypt (ADIB Egypt) on Wednesday reported a 78% year-on-year surge in its consolidated profits for the first quarter of 2019.

Net profits amounted to EGP 279.44 million in Q1-19, compared to EGP 156.78 million in Q1-18, according to the bank’s filing to the Egyptian Exchange (EGX).

Net income hiked to EGP 706.97 million in the three-month period ended March, versus EGP 566.76 million in the same period the year before.

The lender’s standalone profits reached EGP 250.11 million in Q1-19, compared to EGP 151.48 million in the corresponding period in the year before.

In 2018, ADIB Egypt achieved EGP 850.23 million in profits.