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ADIB Egypt’s profits in H1-22 climb to EGP 1.01bn

ADIB Egypt’s profits in H1-22 climb to EGP 1.01bn
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Abu Dhabi Islamic Bank
ADIB
-2.23% 13.65 -0.31

Cairo – Mubasher: The consolidated net profits of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) climbed by 48.4% year-on-year (YoY) in the first half (H1) of 2022, reaching EGP 1.01 billion, including minority shareholders’ rights, according to a bourse filing on Wednesday.

This is compared to a net profit of EGP 680.15 million in H1 of last year.

Basic earnings per share (EPS) reached EGP 4.28 in H1-22, compared with EGP 2.83 in H1-21.

Net comprehensive income for the six-month period ended 30 June 2022 totalled EGP 1.0 billion, compared to EGP 652.39 million in the corresponding period a year earlier.

As for the standalone business, the bank logged EGP 972.2 million in net profits during the January-June period in 2022, a growth from EGP 640.54 million in the same period in 2021.

In the second quarter (Q2) of the year, the lender’s profits netted EGP 572.59 million, compared to EGP 347.93 million in Q2-21. Basic EPS rose to EGP 2.41 in Q2-22 from EGP 1.42 in Q2-21.

In the meantime, net comprehensive income registered EGP 561.72 million over the March-June 2022 period, up from EGP 373.49 million in the same period in 2021.

Noteworthy to mention, in Q1 of the year, the lender's net earnings jumped by 33.7% YoY to EGP 444.29 million from EGP 332.22 million.