Egypt: FABMISR posts 31% rise in core operating performance in Q1 2025
Arab Finance: First Abu Dhabi Bank Misr (FABMISR) recorded a 31% year-on-year (YoY) growth in core operating performance during the first quarter (Q1) of 2025 after neutralizing the impact of foreign exchange (FX) rates, according to the financial results.
Net loans and advances facilities reached EGP 153.4 billion by the end of March 2025, marking a growth of 8% compared to December 2024.
Customer deposits jumped by 12% YoY to EGP 288.9 billion in Q1 of 2025, while the total assets grew by 12% to EGP 461.9 billion. Meanwhile, the total shareholders' equity climbed by 5% to EGP 63.4 billion.
FABMISR logged a net interest income of EGP 7.3 billion in the first three months of 2025, reflecting an annual surge of 20%.
The lender generated a net profit valued at EGP 3.9 billion by the end of March 2025, compared to EGP 9.9 billion in Q1 of 2024.
Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, commented: "The bank has continued to achieve strong performance, driven by high operational efficiency and adaptability in responding to economic changes.'
'This growth not only reflects the strength of our financial performance, but also affirms our ability to continue delivering integrated banking solutions that meet the needs of both individuals and businesses, supporting their financial and investment goals,' Fayed asserted.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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