2021 Financial Results

ADCB Egypt emerging strong at the end of its first year, with a net profit increase of 45%

Abu Dhabi Commercial Bank – Egypt (ADCB) announced its financial results for the year 2021, marking its first year since the launch of its brand in Egypt. Full of achievements, 2021 reflects the success of the bank’s strategy and its efficiency in achieving a strong growth and outstanding financial performance, driving the bank to be among the top of the lists of the fastest growing banks in Egypt throughout 2021. Those results and achievements highlight the solidity of the Egyptian economy and its ability to recover following the pandemic.

ADCB has recorded a balanced growth across all activities and business sectors, while maintaining efficiency and risk ratios. The bank achieved a net profit of EGP 710 Million at the end of 2021, with a growth rate of 45% compared to the previous year. The bank’s net assets increased by 41% reaching EGP 48.4 Billion, the loans portfolio grew by 28%, customer deposits by 41%, and the customer base by 15% YOY.

Mr. Ihab ElSewerky, CEO and Managing Director of Abu Dhabi Commercial Bank Egypt, commented: “During 2021, the bank was able to achieve a robust growth that highlight the success of our strategy, operational performance and all efforts exerted. We are proud with the achievements accomplished during the bank’s first year in Egypt despite the challenges that only motivated us to go through the implementation of our five-year strategy and accelerate the digital transformation plan to offer the best services and improve our efficiency, in alignment with our vision to become the most preferred bank for our customers. ElSewerky added: “we look forward to achieve further growth, pursue our expansion plans and the increase of our customer base. We are committed to achieve a sustainable value for all our stakeholders and support the community in line with Egypt’s vision and the directions of the Central Bank.”

Strong financial performance and indicators

ADCB has achieved a robust increase recording a net profit of EGP 710 Million at the end of the year, with a growth rate of 44.8% compared to the end of 2020. The return on equity has reached 15.1%. To enable the bank to continue its expansion plan, the capital adequacy ratio has reached 21.8%, thus exceeding the required regulatory limit noting that the bank has announced in early 2022 the completion of all procedures for the increase of its issued and paid capital to EGP 5 Billion, thus positioning ADCB among the first banks meeting the required capital increase.

In order to achieve operational efficiency, the bank was able to reduce the cost-to-income ratio by 3%, despite the bank’s growth plans and investment in the technological infrastructure and human resources to offer the highest level of services and ensure customers’ satisfaction.

Total assets have recorded an increase of 41% to reach EGP 48.4 Billion by the end of 2021 in comparison to the same period last year.

Balanced growth for all business sectors to serve the Egyptian economy while maintaining the quality of the portfolio

ADCB was able to attract new customers and increase the customers’ base by 15% during the year 2021 across the different lines of businesses that witnessed a strong and balanced growth. Total customer deposits increased by 41.3% to reach EGP 41.1 Billion at the end of 2021 YOY, and customer loans portfolio have increased by 28.2% to reach EGP 22.3 Billion. The bank was able to maintain the quality and diversity of its portfolio, while decreasing non-performing loans rate to 3.9%, compared to 5.2% at end of 2020. Loans coverage ratio reached 63%, while loan-to-deposit ratio was 55%.

In order to support corporate in their growth and small and medium enterprises, one of the priority segments as per the Central Bank of Egypt, ADCB has achieved a significant increase in the corporate loan portfolio driven by the growth in financing activities, where small and medium enterprise loans increased by 50% and the large corporate loans by 30% at the end of December 2021 in comparison to the same period last year.

ADCB has been also working to expand its retail franchise through offering innovative products and digital services following the model of ADCB Group in UAE. Thus, the retail loans portfolio for individuals amounted to around EGP 7.4 Billion at the end of December 2021, compared to EGP 6.2 Billion at end of December 2020, with a YOY increase of 20%.

 Expansion and digital transformation efforts with an unprecedented leap in digital utilization

ADCB pays great attention to digital banking services to increase customer satisfaction. The bank has launched several distinguished services such as the mobile and internet banking services for both individuals and companies, cash deposit ATMS, phone banking and the interactive chatbot on the website, relying on state-of-the-art secured technology. Accordingly, the bank has recorded a huge leap of 305% in the number of digital customers, while 51% of banking transactions are taking place digitally in comparison to the end of 2020.

In parallel, the bank has also launched the first anti-fraud real-time system enhanced by artificial intelligence, in-order to advance the bank’s control capabilities on various banking channels.

In terms of geographical growth, the bank is pursuing the expansion and optimization of its network of branches to continue attracting new customers. Accordingly, ADCB has inaugurated Concorde Plaza branch end of 2021, thus bringing the total number of branches to 46 in 22 governorates across Egypt.

Intrinsic commitment to financial inclusion and social responsibility

ADCB has announced its integrated vision for financial inclusion targeting all segments and with a focus on youth and people with disabilities in line with the set directions by the government and the Central Bank of Egypt. The bank has launched “Erada” package which is the first of its kind to offer integrated banking and non-banking benefits designed to support people with disabilities their daily lives. The package includes opening accounts with no fees nor minimum limit, in addition to receiving a medical card to enjoy many specialized medical services and prosthetic devices with reduced cost.

Community support is an intrinsic commitment as evidenced through the bank’s participation in a number of important initiatives, such as the donation of 2 million EGP to “Tahia Masr” Fund targeting those affected by the Coronavirus pandemic. The bank has also signed a 3-year cooperation protocol to provide EGP 10 million for “Ahl Masr” Hospital for burns treatment, in addition to EGP 500,000 to “Baheya” Foundation for early detection and treatment of Breast Cancer and another EGP 500,000 to the children’s Cancer Hospital.


ADCB received five prestigious awards during its first year. The British magazine “Global Business Outlook” awarded ADCB the prize of “Fastest Growing Digital Bank” 2021, and the “Digital Banker” the prizes of “Best Digital Transformation Program,” “Excellence in Technology Transformation”, “Best Financial Inclusion Initiative,” and “Best Graduate Employment Program.” This came as a continuation of ADCB’s success journey since launching the brand in the Egyptian market.

Future outlook 2022

The bank looks forward during 2022 to maintain the same high performance levels, pursue its growth plans, further develop its digital infrastructure and offering, increase its customer base, and continue the enhancement of its services to achieve customer satisfaction.  ADCB is also planning to pursue investing in training and creating the best working conditions for its employees who affirmed their commitment and dedication to serving our customers since the launch of the bank. ADCB is also committed to continue its contribution to support the economy, provide sustainable value to its customers, employees and shareholders, and serving the community in line with Egypt’s Vision 2030 and the Central Bank’s guidelines.