First Abu Dhabi Bank – Egypt (FABMISR) has reported impressive financial results for the first half of 2023, with a remarkable 317% year-on-year increase in net profit. The bank’s net profit reached an impressive 6.6 billion Egyptian pounds ($213.6 million) by the end of June 2023.
This substantial growth in profitability reflects FABMISR’s robust performance and effective financial management during this period. The bank also witnessed significant growth in customer deposits, which surged by 40% to reach 194.5 billion pounds compared to figures reported at the end of December 2022.
Furthermore, FABMISR’s total assets saw a substantial increase of 40%, reaching a total of 289.4 billion pounds. These results underscore the bank’s commitment to providing valuable financial services and fostering growth in Egypt’s banking sector.
