Egypt

ADIB Egypt: 2Q21 – Provisions reversal drives bottom line growth, despite healthy topline

  • Healthy topline growth overshadowed by a surge in other OPEX while provisions reversal saves the scene

  • NIM inched up by 8 bps to stand almost unchanged at 4.9% on higher treasury exposure (+147 bps q/q) of 32%

  • Lending activity slowed down in 2Q21, contracting by 1%. Deposits expanded by a healthy 2% q/q in 2Q21. LDR drops to 73%

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Dalia Bonna @ Al Ahly Pharos Securities Brokerage
August 16th, 2021
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