Arab Finance: Abu Dhabi Islamic Bank Egypt (ADIB) reported a 112.65% year-on-year (YoY) increase in consolidated profits after tax and non-controlling interests in 2023, according to the bank’s financial statements filed to the Egyptian Exchange (EGX) on February 14th.

The bank recorded a consolidated net profit after tax of EGP 4.670 billion in 2023, compared to a profit of EGP 2.196 billion in 2022.

Net interest income rose to EGP 8.924 billion during the January-December period of last year from EGP 4.822 billion in 2022.

Meanwhile, the bank’s standalone net profit after tax amounted to EGP 4.490 billion in the 12-month period ended December 31st, up from EGP 2.125 billion.

ADIB Egypt is an EGX-listed bank that operates within the provision of retail, corporate, and investment banking services through a network of 69 branches located across Egypt.

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