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ADIB Egypt’s profit drops to EGP 844m profit in 9M

ADIB Egypt’s profit drops to EGP 844m profit in 9M
Net interest income grew to EGP 2.335 billion
Abu Dhabi Islamic Bank
ADIB
1.20% 15.05 0.18

Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) achieved net profits of EGP 844.265 million in the first nine months of 2020, down by 12.7% year-on-year (YoY) from EGP 967.03 million.

The bank’s net interest income grew to EGP 2.335 billion in the January-September period from EGP 2.32 billion in the prior-year period, according to a bourse disclosure on Sunday.

As for standalone business, ADIB Egypt logged EGP 815.99 million in net profits in the nine-month period ended 30 September, down from EGP 871.78 million in the corresponding period a year earlier.

During the first half (H1) of 2020, the lender posted net profits of EGP 530.57 million, compared to EGP 658.56 million in H1-19.