{"id":322890,"date":"2021-08-08T14:36:24","date_gmt":"2021-08-08T14:36:24","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322890"},"modified":"2021-08-08T14:36:24","modified_gmt":"2021-08-08T14:36:24","slug":"abu-dhabi-commercial-bank-egypt-net-profit-climbs-83-y-o-y-in-h1","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/08\/08\/abu-dhabi-commercial-bank-egypt-net-profit-climbs-83-y-o-y-in-h1\/","title":{"rendered":"Abu Dhabi Commercial Bank \u2013 Egypt net profit climbs 83% y-o-y in H1"},"content":{"rendered":"

Abu Dhabi Commercial Bank \u2013 Egypt (ADCB-Egypt), part of\u00a0Abu Dhabi Commercial Bank, reported on Sunday an 83 percent year-on-year jump in net profit for the first half of the year.<\/p>\n

Net profit grew to 358 million Egyptian pounds ($22.8 million) for the first half of 2021, ended on June 30.<\/p>\n

Total assets also rose 22 percent to 41.9 billion pounds at the end of June 2021 up from 34.3 billion pounds at the end of December 2020.<\/p>\n

Loans and credit facilities reached 19.8 billion pounds at June-end, 20 percent up from 16.6 billion pounds at December-end.<\/p>\n

Customers\u2019 deposits rose 20 percent to around 34.9 billion pounds at June-end from 29.1 billion pounds at December-end.<\/p>\n

\u201cWe are immensely proud of our Bank\u2019s momentum during the first half of the year, registering a solid increase of more than 80% in comparison to figures recorded in the same period last year.\u201d Ihab El Sewerky, CEO and managing director of ADCB-Egypt, said.<\/p>\n

\u201cThis positive performance is a testament to Egypt\u2019s economic resilience, maintaining its status as a high potential for investment and growth. It also highlights the Bank\u2019s strong strategy and successful expansion policy in emphasising the brand in the Egyptian market.\u201d<\/p>\n

Since entering the Egyptian market in September 2020, ADCB\u2019s strategy is based upon catering to its clients\u2019 demands and aspirations while achieving a balanced growth \u201cin terms of activities and business sectors, keeping efficiency and mitigating risks that cope with this growth to ensure sustainable business development.\u201d<\/p>\n

ADCB-Egypt also delivered robust results in its corporate and small and medium-sized loans as a result of increased lending activity. SME loans surged to 25 percent and corporate loans rose to 20 percent as of end of June 2021, in comparison to numbers recorded in December 2020.<\/p>\n

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Abu Dhabi Commercial Bank \u2013 Egypt (ADCB-Egypt), part of\u00a0Abu Dhabi Commercial Bank, reported on Sunday an 83 percent year-on-year jump in net profit for the first half of the year.<\/p>\n","protected":false},"author":4,"featured_media":321408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[204],"class_list":["post-322890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-abu-dhabi-commercial-bank-adcb"],"yoast_head":"\nAbu Dhabi Commercial Bank \u2013 Egypt net profit climbs 83% y-o-y in H1 - egy-africa<\/title>\n<meta name=\"description\" content=\"Abu Dhabi Commercial Bank \u2013 Egypt (ADCB-Egypt), part of\u00a0Abu Dhabi Commercial Bank, reported on Sunday an 83 percent year-on-year jump in net profit for the first half of the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/08\/08\/abu-dhabi-commercial-bank-egypt-net-profit-climbs-83-y-o-y-in-h1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Dhabi Commercial Bank \u2013 Egypt net profit climbs 83% y-o-y in H1 - 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