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Global institutions such as The Digital Banker, Global Finance, and others have honored the bank with awards for excellence, including Best New Bank, Digital Transformation & Services, Corporate Governance, Sustainability Frameworks, Financial Inclusion, and Best Products & Services for High-Net-Worth Individuals.
ADCB Egypt announced its financial results for the first half of 2024, registering a remarkable 162% increase in net profits compared to the same period last year. This growth coincided with a 17% rise in total assets, which reached EGP 115 billion, alongside loan portfolios and financing growth to EGP 43.4 billion, and deposits climbing to EGP 98.9 billion, representing 21% and 14% growth, respectively. Additionally, the bank’s investment portfolio reached EGP 57.1 billion, up by 18%. The return on average equity grew by 71% to 41%, while the return on average assets rose by 105% to 4.1%.
These impressive results reflect the bank’s exceptional performance across all levels, successfully implementing its growth strategy, increasing market share, and excelling in customer service while contributing to the economy and applying best practices in corporate governance and sustainability frameworks.
Notably, The Digital Banker awarded ADCB Egypt five prestigious accolades: Best Product & Services for High-Net-Worth Individuals, Best Financial Inclusion Initiative, Best Corporate Social Responsibility Initiative, and Excellence in Digital Innovation.
Ihab ElSewerky, CEO and Managing Director of ADCB Egypt, expressed his pride, stating: “These results and awards are a testament to the bank’s performance and the efforts of our team across all sectors, achieving growth and excellence as the Best New Bank since our brand launch in 2020. We have excelled in services, products, and digital innovation to meet our clients’ needs while adhering to the highest standards of corporate governance and sustainability. These achievements demonstrate the strength of our strategy, focusing on customer satisfaction as a key driver of growth, offering a high-quality banking experience based on the model of ADCB Group in the UAE.”
In recognition of its digital transformation efforts, innovative digital services, and adherence to best practices in digital security and fraud prevention, ADCB Egypt received awards from Global Finance for “Best Online Product Offerings”, “Best Information Security & Fraud Management”, and “Best Transformation Bank”. These awards are determined by a panel of top financial executives, analysts, and bankers who evaluate the performance of key global financial institutions. The bank also won “Best Mobile Bank” and “Most Innovative Mobile/Internet Banking” from International Business Magazine, as well as “Best Digital Service Provider” from World Business Outlook. Additionally, Global Brands awarded ADCB Egypt the “Fastest Growing Digital Banking Platform” award.
ADCB Egypt was also honored with “Best New Bank” awards from both World Business Outlook and International Business Magazine, recognizing its strong financial performance and sustainable growth. Global Brands recognized it as the “Emerging Financial Institution” , and International Finance Magazine and International Business Magazine awarded it “Best Bank in Corporate Governance”, acknowledging its compliance with sound governance frameworks and its adherence to the highest local and international standards.
For the first time in sustainability awards, ADCB Egypt received “Most Innovative/Best ESG Integration Framework” from International Finance Magazine and “Best Green Community Development Initiative” from Global Brands for its clean energy community development project in Matrouh, in collaboration with Schneider Electric and “Gebal Foundation for Development”.
These accolades add to the bank’s growing list of achievements this year, including its award for Best Financial Inclusion Initiative for its tailored services for people of determination and the “Hayah” package targeting women. Continuing its commitment to community development, ADCB Egypt was recognized for supporting people of determination by launching the first vocational education class in collaboration with the El-Sewedy Academy for Technical Education.
