Latest news with #AbuDhabiIslamicBank–Egypt
Daily News Egypt
06-07-2025
- Business
- Daily News Egypt
ADIB Egypt publishes second sustainability report for 2024
In a move that reaffirms its leadership in sustainable Islamic banking, Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) has released its second annual Sustainability Report for 2024, aligning with the Global Reporting Initiative (GRI) Standards. Covering the period from January to December 2024, the report outlines the bank's performance across environmental, social, and governance (ESG) domains. It offers a transparent and comprehensive view of ADIB Egypt's current sustainability practices and their integration into its broader corporate strategy—underscoring the bank's commitment to supporting Egypt's transition to a green and sustainable economy. The report reflects ADIB Egypt's full embrace of sustainability and sustainable finance principles, which have become vital benchmarks in evaluating financial institutions at both local and international levels. It also highlights the bank's positioning as a regional sustainability leader—a reputation recognised through several prestigious international awards and accolades. Regional Recognition and Leadership ADIB Egypt received five international awards in 2024, acknowledging its advanced standing in sustainable finance. In addition, CEO and Managing Director Mohamed Ali was honoured by the League of Arab States as one of the Arab region's most influential sustainability leaders, in recognition of his role in embedding a sustainability-first culture within the financial sector. 'Sustainability is a core pillar of our corporate strategy,' said Ali. 'The release of our second Sustainability Report in accordance with GRI Standards affirms our long-standing commitment. The report reflects our efforts to integrate sustainability indicators into every level of our operations and to adopt sustainable finance as a practical framework.' He added that the bank's global recognition reflects its success in aligning Islamic banking principles with sustainability objectives, reinforcing its status as a responsible financial institution that actively contributes to community development, environmental protection, and economic advancement. Key ESG Initiatives and Milestones As part of its growing commitment to ESG principles, ADIB Egypt implemented a number of impactful initiatives in the first half of 2025: Carbon Footprint Reporting:The bank issued its fourth Carbon Footprint Report, reaffirming its environmental responsibility and ongoing efforts to reduce emissions and promote eco-friendly practices. Public Engagement in Climate Action:ADIB Egypt sponsored Egypt's largest public race, organised in collaboration with the British University in Egypt. With over 7,000 participants, the event supported the United Nations' Sustainable Development Goal (SDG 4) on quality education. Climate Governance Participation:The bank joined the Chapter Zero Egypt initiative, reinforcing its commitment to advancing environmental governance and climate action. Community Investment:Through its charitable foundation, the bank continues to invest in community-focused initiatives that generate tangible social impact. These include programmes targeting economic empowerment, educational support, and broader financial inclusion—especially for vulnerable groups. ADIB Egypt's 2024 Sustainability Report not only documents progress but also sets the foundation for future ambitions in line with national priorities and global climate and development goals. The bank reaffirmed its pledge to remain at the forefront of sustainable Islamic finance in Egypt, continually advancing its ESG agenda while contributing meaningfully to the country's long-term economic and social development.
Daily News Egypt
12-04-2025
- Business
- Daily News Egypt
ADIB joins ‘Chapter Zero Egypt' to advance climate governance, sustainability goals
Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) has officially joined the 'Chapter Zero Egypt' initiative, a strategic step that underscores the bank's strong commitment to sustainability and climate governance. This move reflects ADIB Egypt's alignment with global environmental, social, and governance (ESG) standards and further enhances its role in promoting sustainable finance in Egypt's banking sector. Membership in 'Chapter Zero Egypt' grants the bank access to a wide network of climate governance experts, supporting its efforts to deepen the integration of sustainability into its corporate strategy and operations. The initiative is part of a broader push to foster responsible corporate practices and advance Egypt's national agenda for sustainable development. 'We believe it is our responsibility to help shape a green and sustainable future for the coming generations,' said Mohamed Ali, CEO and Managing Director of ADIB Egypt. 'Our philosophy rests on the idea that financial success and sustainability go hand in hand. That's why we're constantly innovating to deliver simple, convenient banking solutions that reflect the highest sustainability standards and contribute to a better tomorrow.' He added: 'Through our participation in 'Chapter Zero Egypt,' we will continue to uphold international standards, adopt environmentally responsible practices, and support our clients in making a more inclusive and just transition toward sustainability.' In recent years, ADIB Egypt has made substantial progress in embedding ESG principles across its operations. The bank has introduced energy-efficient practices in its branches, launched green financing products, and worked to systematically reduce its carbon footprint. It has also aligned its operations with the goals of the Paris Climate Agreement and adopted environmentally responsible policies in areas such as procurement, waste management, and resource efficiency. The bank's ongoing efforts are supported by regular carbon footprint reporting, ensuring transparency and accountability in its sustainability performance. These practices not only reduce the environmental impact of its own operations but also empower clients to adopt sustainable business models and lower their emissions. By integrating sustainability into all aspects of its business, ADIB Egypt continues to position itself as a leader in responsible finance. The bank acknowledges the financial sector's pivotal role in addressing climate challenges and is committed to driving the transition toward a low-carbon, inclusive economy—both through its internal practices and its support for clients on their sustainability journeys.
Zawya
17-02-2025
- Business
- Zawya
ADIB-Egypt's strategy, future vision to strengthen its market position are on right track: CEO
Egypt - Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) is progressing as planned with its strategy and future vision to fortify its market position. This is according to Mohamed Ali, CEO and Managing Director of the bank, who reaffirmed its leadership in innovation through distinguished, Sharia-compliant financial solutions. 'We take pride in our achievements and our position as the best and largest Islamic bank in Egypt,' Ali commented. 'Our outstanding financial performance reflects a strong commitment to comprehensive growth.' He emphasised that ADIB-Egypt has become synonymous with innovation in financial products and banking services, all while adhering to principles of discipline and Sharia compliance. Ali also highlighted the bank's active participation in several sustainability and sustainable finance initiatives in Egypt, reinforcing its commitment to integrating environmental, social, and governance (ESG) practices. Leading the Islamic Banking Sector ADIB-Egypt's performance in 2024 has further cemented its position in the Egyptian banking sector. According to Ali, the bank's tangible results reflect its strong financial performance throughout the year, strengthening its status as the top Sharia-compliant bank in Egypt. In 2024, the bank attained the highest standards of quality and innovation in its banking services, with its strong financial results securing its place as the leading Islamic bank. It also dominated key financial indicators, including assets, deposits, and loans. Looking ahead, ADIB-Egypt remains committed to its banking vision, particularly in retail banking, innovation, digital products, and corporate services. The remarkable performance across all banking activities in 2024, coupled with the bank's commitment to social responsibility, has driven significant growth. Furthermore, its subsidiaries also recorded notable increases in profits and revenues, enhancing the bank's overall success and recognition. Consolidated Financial Results ADIB-Egypt's consolidated financial statements reveal a surge in net profits to EGP 9.02bn in 2024, a 93% increase compared to 2023. Ali noted that the bank's total revenue increased to EGP 18bn, marking a 66% growth, while net income from fees and commissions rose by EGP 337m to reach EGP 1.9bn, reflecting a 22% increase. In line with its commitment to delivering value to shareholders, ADIB-Egypt plans to distribute bonus shares at a ratio of one free share for each existing share, with a total allocation of EGP 6bn, representing a 100% distribution. Financial Position and Growth Rates The bank's financial indicators for 2024 show a 61% increase in total assets, reaching EGP 260.5bn by December 2024, compared to EGP 162.3bn at the end of 2023. This growth was driven by an increase in the total financing portfolio for customers and banks to EGP 104.4bn, compared to EGP 67.9bn in 2023, marking a 54% increase. The growth in total financing was supported by a 53% expansion in the retail loan portfolio, which reached EGP 28bn by the end of 2024, compared to EGP 18.3bn in 2023. Meanwhile, the corporate and bank financing portfolio grew by 54% to reach EGP 76.4bn, up from EGP 49.6bn in the previous year. Additionally, net placements with banks grew by more than 100% in 2024, reaching EGP 98bn. The net investment portfolio also increased by 24%, adding EGP 8bn to reach EGP 42bn. On the deposit side, customer deposits surged to EGP 200bn by the end of 2024, reflecting a 57% growth compared to 2023, when deposits stood at EGP 127bn. This increase was primarily driven by a 50% rise in individual deposits, which reached EGP 87bn (an increase of EGP 29bn), as well as a 63% increase in institutional deposits, adding EGP 44bn to reach a total of EGP 113bn. In terms of efficiency indicators, the capital adequacy ratio stood at 17.21%, while the return on equity reached 48.7%. Additionally, the cost-to-income ratio improved to 17.4%, reflecting a 3.6% increase. Expansion Plan ADIB-Egypt continued its expansion strategy throughout 2024, increasing its branch network to 72 locations. The bank aims to open eight new branches in 2025 as part of its efforts to expand its geographic reach and improve customer accessibility. The bank also operates 139 ATMs in key locations, further supporting its growth strategy. Corporate Social Responsibility ADIB-Egypt continues to support critical sectors such as healthcare, education, and underprivileged communities through direct contributions and partnerships with governmental and non-governmental organisations. This forms part of the bank's ongoing commitment to corporate social responsibility (CSR). One of the bank's most notable CSR initiatives in 2024 was signing a cooperation protocol with Ahl Masr Burns Hospital, the first free burns treatment hospital in Egypt, the Middle East, and Africa. 39 Global Awards ADIB-Egypt's outstanding performance has been recognised with 39 global awards, highlighting its achievements and leadership in Islamic banking. These awards reflect the bank's excellence in financial services, innovation, and customer satisfaction. The awards covered various categories, including digital banking, fintech innovation, sustainability, and sustainable finance. Notably, ADIB-Egypt received six awards for being the best sustainable Islamic finance bank, further reinforcing its commitment to responsible banking.
Daily News Egypt
16-02-2025
- Business
- Daily News Egypt
ADIB-Egypt's strategy, future vision to strengthen its market position are on right track: CEO
Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) is progressing as planned with its strategy and future vision to fortify its market position. This is according to Mohamed Ali, CEO and Managing Director of the bank, who reaffirmed its leadership in innovation through distinguished, Sharia-compliant financial solutions. 'We take pride in our achievements and our position as the best and largest Islamic bank in Egypt,' Ali commented. 'Our outstanding financial performance reflects a strong commitment to comprehensive growth.' He emphasised that ADIB-Egypt has become synonymous with innovation in financial products and banking services, all while adhering to principles of discipline and Sharia compliance. Ali also highlighted the bank's active participation in several sustainability and sustainable finance initiatives in Egypt, reinforcing its commitment to integrating environmental, social, and governance (ESG) practices. Leading the Islamic Banking Sector ADIB-Egypt's performance in 2024 has further cemented its position in the Egyptian banking sector. According to Ali, the bank's tangible results reflect its strong financial performance throughout the year, strengthening its status as the top Sharia-compliant bank in Egypt. In 2024, the bank attained the highest standards of quality and innovation in its banking services, with its strong financial results securing its place as the leading Islamic bank. It also dominated key financial indicators, including assets, deposits, and loans. Looking ahead, ADIB-Egypt remains committed to its banking vision, particularly in retail banking, innovation, digital products, and corporate services. The remarkable performance across all banking activities in 2024, coupled with the bank's commitment to social responsibility, has driven significant growth. Furthermore, its subsidiaries also recorded notable increases in profits and revenues, enhancing the bank's overall success and recognition. Consolidated Financial Results ADIB-Egypt's consolidated financial statements reveal a surge in net profits to EGP 9.02bn in 2024, a 93% increase compared to 2023. Ali noted that the bank's total revenue increased to EGP 18bn, marking a 66% growth, while net income from fees and commissions rose by EGP 337m to reach EGP 1.9bn, reflecting a 22% increase. In line with its commitment to delivering value to shareholders, ADIB-Egypt plans to distribute bonus shares at a ratio of one free share for each existing share, with a total allocation of EGP 6bn, representing a 100% distribution. Financial Position and Growth Rates The bank's financial indicators for 2024 show a 61% increase in total assets, reaching EGP 260.5bn by December 2024, compared to EGP 162.3bn at the end of 2023. This growth was driven by an increase in the total financing portfolio for customers and banks to EGP 104.4bn, compared to EGP 67.9bn in 2023, marking a 54% increase. The growth in total financing was supported by a 53% expansion in the retail loan portfolio, which reached EGP 28bn by the end of 2024, compared to EGP 18.3bn in 2023. Meanwhile, the corporate and bank financing portfolio grew by 54% to reach EGP 76.4bn, up from EGP 49.6bn in the previous year. Additionally, net placements with banks grew by more than 100% in 2024, reaching EGP 98bn. The net investment portfolio also increased by 24%, adding EGP 8bn to reach EGP 42bn. On the deposit side, customer deposits surged to EGP 200bn by the end of 2024, reflecting a 57% growth compared to 2023, when deposits stood at EGP 127bn. This increase was primarily driven by a 50% rise in individual deposits, which reached EGP 87bn (an increase of EGP 29bn), as well as a 63% increase in institutional deposits, adding EGP 44bn to reach a total of EGP 113bn. In terms of efficiency indicators, the capital adequacy ratio stood at 17.21%, while the return on equity reached 48.7%. Additionally, the cost-to-income ratio improved to 17.4%, reflecting a 3.6% increase. Expansion Plan ADIB-Egypt continued its expansion strategy throughout 2024, increasing its branch network to 72 locations. The bank aims to open eight new branches in 2025 as part of its efforts to expand its geographic reach and improve customer accessibility. The bank also operates 139 ATMs in key locations, further supporting its growth strategy. Corporate Social Responsibility ADIB-Egypt continues to support critical sectors such as healthcare, education, and underprivileged communities through direct contributions and partnerships with governmental and non-governmental organisations. This forms part of the bank's ongoing commitment to corporate social responsibility (CSR). One of the bank's most notable CSR initiatives in 2024 was signing a cooperation protocol with Ahl Masr Burns Hospital, the first free burns treatment hospital in Egypt, the Middle East, and Africa. 39 Global Awards ADIB-Egypt's outstanding performance has been recognised with 39 global awards, highlighting its achievements and leadership in Islamic banking. These awards reflect the bank's excellence in financial services, innovation, and customer satisfaction. The awards covered various categories, including digital banking, fintech innovation, sustainability, and sustainable finance. Notably, ADIB-Egypt received six awards for being the best sustainable Islamic finance bank, further reinforcing its commitment to responsible banking.
