EARNINGS WATCH-

Abu Dhabi Islamic Bank Egypt reported a consolidated net income after tax of EGP 1.01 bn in 1Q 2023, up 126.6% y-o-y, according to anEGX disclosure (pdf). Its net income from funds rose to EGP 1.81 bn, up 85.9% y-o-y during the same period last year.

Credit Agricole’s net income grew 149% y-o-y to EGP 1.2 bn in 1Q 2023, according to anEGX disclosure(pdf). The banking group’s interest income, meanwhile, rose 69% y-o-y to EGP 2.3 bn.

B Investments is paying out a dividend of USD 0.13 per share on 31 May, the private equity firm said in an EGX disclosure (pdf). Dividends will be distributed to shareholders who purchase eligible shares before the end of the trading session on 28 May.

MARKET ROUNDUP-

The EGX30 rose 0.6% at today’s close on turnover of EGP 1.83 bn. Local investors were net sellers. The index is up 19% YTD.

In the green: Credit Agricole (+11.1%), ADIB (+8.9%), and CIRA Education (+7.7%).

In the red: Juhayna (-4.2%), Egypt Kuwait Holding (-3.0%), and Ibnsina Pharma (-2.4%).

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