EARNINGS WATCH-

Abu Dhabi Islamic Bank reported EGP 1.45 bn in net income in 2021, up 22% y-o-y, according to the bank’s financial statement (pdf). The bank’s interest income rose 13.4% y-o-y to record EGP 8.2 bn for the year.

Odin Investments’ losses widened to EGP 2.55 mn in 2021, from EGP 2.21 the previous year, according to the firm’s financial statement (pdf). Revenues rose 9.5% annually to record EGP 18.38 mn for the year.

Logistics company Egytrans reported EGP 18.27 mn in net income in 2021, up 39.9% y-o-y, according to its financial statement (pdf). Revenues rose 35.8% y-o-y to EGP 293.52 mn.

Suez Canal Bank reported EGP 604.68 mn in net income last year, up 0.5% y-o-y, according to its financials (pdf). Interest income was essentially flat at EGP 4.28 bn.

EGBank posted EGP 695.34 mn in net income in 2021, rising 11.2% y-o-y, its financial statement (pdf). Interest income was up 3.3% y-o-y to EGP 7.61 bn.

MARKET ROUNDUP-

The EGX30 fell 1.4% at today’s close on turnover of EGP 501 mn (51.4% below the 90-day average). Foreign investors were net sellers. The index is down 4.8% YTD.

In the red: Heliopolis Housing (-5.2%), Palm Hills Development (-5.1%) and Qalaa Holdings (-4.4%).