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ADIB Egypt's profit edges down in 2020

ADIB Egypt's profit edges down in 2020
The lender’s net interest income increased to EGP 3.106 billion
Abu Dhabi Islamic Bank
ADIB
1.14% 12.42 0.14

Cairo – Mubasher: Abu Dhabi Islamic Bank - Egypt (ADIB Egypt) reported net profits of EGP 1.19 billion in 2020, slightly down by 3% year-on-year (YoY) from EGP 1.22 billion, including minority shareholders’ rights.

The lender’s net interest income increased to EGP 3.106 billion last year, compared to EGP 3.077 billion in 2019, according to a bourse disclosure on Sunday.

As for standalone business, the bank’s net profits registered EGP 1.15 billion in 2020, up from EGP 1.102 billion in the prior year.

During the first nine months of 2020, ADIB Egypt achieved net profits of EGP 844.265 million, down from EGP 967.03 million in the corresponding period a year earlier.