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Egypt: FABMISR Reports 160% YoY Net Profit Growth in Q3
2024-11-26

Egypt: FABMISR Reports 160% YoY Net Profit Growth in Q3

Egypt -  First Abu Dhabi Bank Misr (FABMISR) has recorded a net profit of EGP 21.3 billion for the third quarter (Q3) of 2024, marking a 160% year-on-year (YoY) surge, as per an emailed press release.

The bank’s net loans and advances increased by 45% to EGP 125.6 billion as of September 2024, compared to the end of December 2023.

Customers' deposits jumped by 26% to EGP 252.2 billion, while total assets rose by 39% to EGP 410 billion at the end of September.

FABMISR also saw substantial growth in its equity, with total shareholders' equity surging by 62%, reaching EGP 54.5 billion.
Source: ZAWYA