Earnings Report /

ADIB Egypt: 2Q22 – Outstanding quarter

  • Strong sequential and annual performance was driven by: strong topline, lower OPEX, and lower effective tax rate q/q

  • Loans expanded by +8% q/q and +14% YTD and deposits expanding by 6% q/q to bring YTD growth to 9%

  • The stock is trading at P/E 22 of 1.7x and P/B 22 of 0.3x, on ROAE of 21%

Al Ahly Pharos Securities Brokerage
21 August 2022


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