Arab Finance: Abu Dhabi Islamic Bank (ADIB Egypt) posted a 51% year-on-year (YoY) increase in its consolidated net profits after tax hitting EGP 2.189 billion during 2022, up from EGP 1.450 billion in 2021, according to an EGX disclosure on February 12th.
Net income interest increased to EGP 4.822 billion, up from EGP 3.500 billion in 2021.
For standalone business, the lender registered net profits after tax amounting to EGP 2.12 billion, compared to EGP 1.37 billion in 2021.
ADIB Egypt is an award-winning bank that started its operations in Egypt after the acquisition of the National Bank for Development (NBD), through the Emirati consortium between Abu Dhabi Islamic Bank and Emirates International Investment Company (EIIC) in 2007.