Abu Dhabi Commercial Bank – Egypt reports net profit rise of 83% in H1 2021

Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt) has delivered robust results during the first half (H1) of 2021, with net profit increasing by a staggering 83% to reach EGP 358m compared to H1 of 2020.

This positive performance reflects the bank’s successful business management and its efficiently executed growth strategies at this critical stage despite the pandemic effects.

It also proves the Egyptian economy’s resilience, as the country was one of the few emerging markets that maintained growth at a quick pace in spite of the immense impact of the pandemic.

Furthermore, ADCB-Egypt recorded a 22% growth in total assets to reach EGP 41.9bn as of the end of June 2021, up from 34.3bn recorded as of the end of December 2020.

Total loans and credit facilities also had a notable growth of 20% defined as EGP 19.8bn in H1 of 2021, a significant development from EGP 16.6bn recorded in December 2020. Customer deposits also rose by 20% to around EGP 34.9bn as of June 2021, relative to the EGP 29.1bn at the end of December 2020.