ADIB Egypt to invest $20.2mln to drive digital transformation

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The announcement aligns with the EGX-listed lender’s strategic objectives to expand investments in technological infrastructure and cybersecurity

Staff Writer, Mubasher

November 19, 2024

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Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) plans to invest approximately EGP 1 billion in the digital sector during the upcoming period, according to a bourse filing.

The announcement aligns with the EGX-listed lender’s strategic objectives to expand investments in technological infrastructure and cybersecurity.

ADIB Egypt recently announced its financial results for the nine-month period that ended on 30 September 2024, recording consolidated net profits valued at EGP 6.80 billion.

Meanwhile, the standalone net profits after tax hiked to EGP 6.65 billion in 9M-24 from EGP 3.42 billion in 9M-23.

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