Abu Dhabi Islamic Bank- Egypt’s profits-for 2016 first quarter- increased compared to the same period of last year. The bank’s standalone financial statements, for the period ending March 31, show net profits less tax of EGP 83.7m, against EGP 62.4m, during 2015 first quarter.
Commenting on its standalone financial statements and profits, the bank said its total revenues reached EGP 455m, with a 43 per cent or EGP 136m increase than the same period of last year. Net financing revenues reached EGP 307m with an EGP 90m, compared to the same period of 2015. Net banking fees and commissions are estimated at EGP 84m, with an EGP 20m increase, while net trading revenues increased by EGP 26m reaching EGP 64m.
Total deposits, of 2016 first quarter, grew by 7 per cent reaching EGP 22bn, and total funds are valued at EGP 12bn, posting a 6 per cent growth rate, the bank reported.
ADIB’s total assets grew by 13 per cent, namely EGP 3bn, to reach EGP 27bn, while tax dues decreased by EGP 30m, 23 per cent, to EGP 100m, compared to the same period of last year.
