HomeAfricaEgyptFABMISR's Net Profit Skyrockets...

FABMISR’s Net Profit Skyrockets 153% to EGP 26.3 Billion in 2024!

By Africazine

In a sparkling display of financial prowess, First Abu Dhabi Bank Misr (FABMISR) has unveiled its fiscal results for the year ending December 2024, and the numbers are truly impressive. As one of the largest banks operating in Egypt, FABMISR’s performance not only reflects its growth trajectory but also its crucial role in bolstering the Egyptian economy. The bank’s commitment to delivering innovative and tailored banking solutions is making waves among clients and stakeholders alike.

The figures speak volumes: FABMISR’s net profits skyrocketed to EGP 26.3 billion, representing an astonishing 153% increase compared to the previous year. This growth was particularly notable when factoring out the exchange rate effects, where the bank still achieved a remarkable 136% increase year-over-year. This performance highlights the resilience and strategic adaptability of FABMISR amidst a dynamic economic landscape.

Furthermore, the bank reported a significant leap in net loans and advances, totaling EGP 142 billion—a striking 64% increase from 2023. Customer deposits also saw robust growth, reaching EGP 258.8 billion, which marks a healthy 29% rise. Total assets, too, flourished, surging to EGP 412.7 billion, a noteworthy 40% growth compared to the prior year.

FABMISR’s stellar results underscore the trust that Egyptian businesses and individuals place in the institution. By prioritizing customer-centric services and innovative banking solutions, FABMISR aims to meet the evolving needs of its clients, thereby contributing to broader economic stability and growth in Egypt.

As the bank continues to forge ahead in 2025, it remains positioned as a key player in the financial sector, ready to embrace new opportunities and challenges. This remarkable performance not only fosters confidence in the banking institution but also reinforces a brighter economic outlook for the region. With such a focus on growth and client satisfaction, FABMISR is undoubtedly setting a benchmark for banks across the continent.

Tags:

#Egypt #BusinessNews #WorldNews

- A word from our sponsors -

Most Popular

Previous article
Raila Offers Heartfelt Support to the Grieving Family of the Late Mbotela
Next article
“Explore Luxor & Aswan: Visa-Free Travel for Tourists from May to October 2025!”

More from Author

South Africa

Ruwacon Opens Bursary Applications for South African Students in Construction Fields

Ruwacon is inviting South African students to apply for the Ruwacon Bursary Programme 2027, with applications closing on 20 November 2026. The bursary supports undergraduate and postgraduate studies in construction and engineering fields, offering financial aid and practical exposure to the industry.
Africazine -
Egypt

Egypt Launches First Digital Platform for Virtual Exhibitions and Conferences

The Egyptian Expo and Convention Authority has partnered with Meta Mall to launch Egypt's first digital platform for virtual exhibitions, enhancing the exhibitions industry and promoting Egyptian products while utilizing advanced technologies for managing digital events at the Cairo International Conference Center.
Africazine -
Nigeria

Renewed Interest in Traditional Botanical Practices Reshapes Health Conversations in Africa

Interest in traditional botanical practices is growing in Nigeria as communities seek ways to support wellbeing, with initiatives like "Back to the Roots" aiming to integrate ancestral knowledge with modern science while preserving cultural identity and heritage.
Africazine -
Nigeria

UN Committee Recommends Reappointment of Dr. Sarah Alade for Investment Role

The United Nations General Assembly’s Fifth Committee has recommended Dr Sarah Alade for reappointment to the UN Investments Committee for another three-year term starting January 1, 2027, pending confirmation by the General Assembly.
Africazine -

- A word from our sponsors -

spot_img

Read Now

Ruwacon Opens Bursary Applications for South African Students in Construction Fields

Ruwacon is inviting South African students to apply for the Ruwacon Bursary Programme 2027, with applications closing on 20 November 2026. The bursary supports undergraduate and postgraduate studies in construction and engineering fields, offering financial aid and practical exposure to the industry.

Egypt Launches First Digital Platform for Virtual Exhibitions and Conferences

The Egyptian Expo and Convention Authority has partnered with Meta Mall to launch Egypt's first digital platform for virtual exhibitions, enhancing the exhibitions industry and promoting Egyptian products while utilizing advanced technologies for managing digital events at the Cairo International Conference Center.

Renewed Interest in Traditional Botanical Practices Reshapes Health Conversations in Africa

Interest in traditional botanical practices is growing in Nigeria as communities seek ways to support wellbeing, with initiatives like "Back to the Roots" aiming to integrate ancestral knowledge with modern science while preserving cultural identity and heritage.

UN Committee Recommends Reappointment of Dr. Sarah Alade for Investment Role

The United Nations General Assembly’s Fifth Committee has recommended Dr Sarah Alade for reappointment to the UN Investments Committee for another three-year term starting January 1, 2027, pending confirmation by the General Assembly.

Gold Prices in Egypt Remain Stable Amid Global Market Fluctuations

The price of 24-karat gold in Egypt remained stable at EGP 7,097 per gram on November 7, 2026, while 21-karat gold traded above EGP 6,200 amid global price declines and fluctuations in the US dollar against the Egyptian pound.

Zambia and Africa Finance Corporation Advance Railway Project to Angola’s Port

Zambia is advancing its 830-km railway link to Angola's Port of Lobito, aiming for financial closure by 2027, with expectations to handle roughly 2 million tonnes of freight annually, enhancing regional trade and logistics.

Investor Interest in Solar Capacity Grows Amid Transmission Challenges in Botswana

Investor interest in over 5 gigawatts of solar capacity in Botswana is rising, but progress is hindered by inadequate transmission infrastructure. The government is working on necessary regulatory frameworks and infrastructure development to facilitate electricity generation and export.

Gambian Honorary Consul Receives Pushkin Medal from Russian President

Momodou Lamin Manga, the Honorary Consul of Russia in The Gambia, received the Pushkin Medal from President Vladimir Putin for his contributions to culture and strengthening ties between The Gambia and Russia during a ceremony at the Kremlin on the Day of National Unity.

Equity Group Reports Significant Profit Increase Amid Rising Greenhouse Gas Emissions

Equity Group Holdings PLC reported a profit after tax of KSh75.5bn, a 55 per cent increase, alongside a 19 per cent rise in greenhouse gas emissions to 39,605 tonnes CO2e in 2025, attributed to business expansion and improved data capture.

Gabon Pursues Partnerships with China in Robotics and Artificial Intelligence

Gabon is seeking partnerships with China to advance its robotics and artificial intelligence sectors, focusing on healthcare, public services, and security. President Brice Clotaire Oligui Nguema's visit to Shanghai emphasized technology transfer and training as Gabon develops its national AI strategy.

Malawi Introduces New Regulations for Solar Energy Grid Integration

Malawi has introduced regulations allowing households and businesses to sell excess solar electricity to the national grid, aiming to enhance electricity supply and stimulate private sector investment. Currently, nine of the 34 pilot phase prosumers are contributing solar power to the grid.

Ghana Pursues Increased Chinese Investment in Mineral Processing and Technology

Ghana is pursuing increased Chinese investment in mineral processing and exploration to enhance local value from its resources, with discussions led by Deputy Minister Sulemana Yusif focusing on collaboration and technical expertise to boost economic growth and job creation.