US economy slows to 1.6% in Q1 of '24 – BEA    EMX appoints Al-Jarawi as deputy chairman    Mexico's inflation exceeds expectations in 1st half of April    GAFI empowers entrepreneurs, startups in collaboration with African Development Bank    Egyptian exporters advocate for two-year tax exemption    Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities    Italy hits Amazon with a €10m fine over anti-competitive practices    Environment Ministry, Haretna Foundation sign protocol for sustainable development    After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida    World Bank pauses $150m funding for Tanzanian tourism project    China's '40 coal cutback falls short, threatens climate    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ADIB posts EGP 1.852bn increase in net loans portfolio
Loans portfolio at the bank increased by 1% in Q4 of 2015, compared to Q3, and by approximately 21.9% compared to December 2014: Beltone
Daily News Egypt Published in Daily News Egypt on 27 - 02 - 2016

Despite slow growth in the fourth quarter, Abu Dhabi Islamic Bank (ADIB) increased its net loan portfolio by EGP 1.852bn in 2015 in a year over year comparison, according to Beltone Financial.
Beltone Financial report provided a comprehensive view of ADIB's fiscal performance in 2015 in a report issued last week.
ADIB posted a net loan portfolio of EGP 10.28bn in December 2015, compared to EGP 8.428 in December 2014.
The growth rate of loans in the bank was slow in Q4 of 2015, where it amounted to only 1%, compared to Q3 of 2015, and 21.9% compared to 2014.
The report indicated that the bank's deposits portfolio increased to EGP 20.34bn in late December 2015, a 5.7% increase compared to September 2015, and a 22.7% increase compared to December 2014.
ADIB posted a loan-deposit ratio of 50.5% in December 2015, compared to a ratio of 52.9% in September 2015, and 50.8% in December 2014.
The bank posted a net profit of EGP 72.1m in Q4 of 2015, an increase of 52% in a year over year comparison to Q4 of 2014, and an approximately threefold increase compared to the net profits of Q3 of 2015.
The bank posted a net profit despite the EGP 31m in reserves it set aside to cover the non-performing loans in Q4 of 2015, compared to only EGP 3m in Q4 of 2014, according to the report.
The bank made a net profit of EGP 219.2m in 2015, registering a decrease of 16% in a year over year comparison to 2014.
ADIB's loan portfolio's net profits increased to EGP 266.9m in Q4 of 2015, an increase of 42.3% compared to Q4 of 2014, and an increase of 3.7% over Q3 of 2015.
Beltone noted that the market value of ADIB amounts to approximately EGP 730.2m, and that the current share's price is listed at EGP 3.66, while a fair value of EGP 11.62, which indicates the possibility of a 217.5% increase in the share's value.

Clic here to read the story from its source.