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ADIB Egypt posts 21% higher consolidated profits in 2021

ADIB Egypt posts 21% higher consolidated profits in 2021
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Abu Dhabi Islamic Bank
ADIB
2.71% 12.52 0.33

Cairo – Mubasher: The consolidated net profits of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) jumped by 21% year-on-year (YoY) to EGP 1.45 billion in 2021, compared to EGP 1.19 billion.

The bank's net interest income amounted to EGP 3.6 billion in 2021, up 13.3% from EGP 3.19 billion in the earlier year, according to a bourse filing on Sunday.

As for standalone businesses, the bank reported a 20% rise in net profits to EGP 1.38 billion in 2021, compared to EGP 1.15 billion in 2020.

It is noteworthy to mention that during the first half (H1) of 2021, the bank registered net profits of EGP 680.15 million, up 28% from EGP 530.57 million in the year-ago period, including minority shareholders' rights.