Arab Finance: Abu Dhabi Islamic Bank (ADIB Egypt) posted a 123.4% year-on-year (YoY) increase in its consolidated net profits after tax and non-controlling interest in the first nine months of 2023 to EGP 3.552 billion, compared to EGP 1.59 billion, according to an EGX disclosure on November 9^th.

Net interest income went up to EGP 6.243 billion from EGP 3.437 billion in the first nine months of 2022.

For standalone business, the lender registered net profits after tax amounting to EGP 3.422 billion from January through September, compared to EGP 1.542 billion in the same period of last year.

Meanwhile, standalone net interest income rose to EGP 6.146 billion from EGP 3.280 billion.

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.

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