FABMISR records robust profits of EGP 8.2B in 9 months
Updated 11/29/2023 11:22:00 AM
Arab Finance: First Abu Dhabi Bank Misr (FABMISR) posted a 206% year-on-year (YoY) surge in net profit for the first nine months of 2023, recording EGP 8.2 billion, according to an emailed press release.
Net interest income rose by 120% YoY to EGP 11.099 billion in the nine-month period, while net income from fees and commissions increased by 40% to EGP 1.466 billion.
Moreover, total deposits increased by 45% to EGP 200.377 billion as of September 30th, compared to in the period ended on December 31st, 2022.
Meanwhile, the bank’s total loan portfolio grew by 70% to EGP 82.935 billion at the end of September from in December 2022.
The bank’s total assets soared to EGP 303.119 billion at end-September, up by 47% from December 2022.
FABMISR, a unit of First Abu Dhabi Bank (FAB), is one of the largest foreign banks operating in Egypt, with 62 branches across the country.
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