Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) reported a 19.4% year-on-year (YoY) drop in its net profits, logging EGP 530.57 million in the first half (H1) of 2020, compared to EGP 658.56 million.

Meanwhile, the lender’s net interest income increased to EGP 1.58 billion in the six-month period ended on 30 June from EGP 1.504 billion in the year-ago period, according to a bourse disclosure on Sunday.

As for standalone business, ADIB Egypt logged EGP 509.58 million in net profits in H1-20, down from EGP 601.21 million in H1-19.

During the first quarter (Q1) of 2020, the bank’s net profits fell to EGP 230.35 million from EGP 279.44 million in Q1-19.