Q1 2022 Results Presentation
Key Messages
Bank ABC
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Q1 2022 performance of a headline net profit of US$31m marks a solid and profitable start to 2022, achieved
despite geo-political, industry and market challenges.
The financial results were underpinned by our consistent strategic direction which has been refreshed to reflect
our increasing emphasis on Digital Transformation and leveraging our acquisition of Blom Bank Egypt (BBE).
Bank ABC continues to deliver great progress across all its strategic objectives.
Growth in revenues returned strongly including the consolidation of BBE, with underlying TOI increasing to
US$253m +28% compared to Q1 2021. Virtually all business units are performing well against their top line
targets.
Costs increased +27% including the consolidation of BBE as well as the Group's return to normal levels of
activity. The Group continues its relentless focus on cost discipline while continuing significant investments into
its digital transformation and strategic initiatives.
The Group maintains a strong balance sheet and capital position, boosted by the issue of Additional Tier 1
(AT1) capital with a 16.6% Tier 1 ratio (14.7% CET1), LCR of 247% and NSFR of 124%. The strengthened Group
capital position was reflected in S&P's affirmation of the Group's investment grade rating of BBB-, while
upgrading its outlook to 'Stable'.
/ Impairment charges (ECL) for the period were US$25m, with cost of risk returning to pre-pandemic levels and
broadly in line with the Group's historic credit loss experience.
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