Khaled El Salawy Enhances ABK-Egypt's Position on Fastest Growing Banks in Profitability Indicators list

ABK-Egypt has undergone a dramatic shift in its key performance indicators under the leadership of Khaled El Salawy, the bank's chief executive officer and managing director. In this article of decision makers, we address the role of El Salawy and the impact of its professional leadership on the development of the bank's profitability indicators.

El Salawy has led the Bank towards unprecedented growth, achieving extraordinary achievements that highlight its leadership competence and strategic vision in return rates on average equity, return on average assets, as well as recording historic surges in net profits, net revenue and net income from fees and commissions.

This outstanding performance reflects ABK-Egypt's ability to achieve a strong leap in its financial results and enhance its competitive position in the market, becoming a role model in the Egyptian banking sector.

Addressing the development of ABK-Egypt profitability indicators during Khaled El Salawy's leadership, the rate of return on average equity jumped from 37.53% in the first 9 months of 2016 to 59.31% in the first 9 months of 2024.

The rate of return on the bank's average assets also doubled, reaching 6.09% during the first 9 months of last year, compared to 2.81% during the same period in 2016.

These indicators reflect a record surge in the bank's net profit, which has nearly doubled by 20 times, jumping by 2,397% and an increase of EGP 5.14 bn since taking over the executive leadership of the bank, registering a net profit of EGP 5.36 bn during the first 9 months of 2024, compared to EGP 214.49 mn during the same period in 2016.

Thanks to its outstanding leadership, the Bank's net profit in 2024 saw the highest quarterly growth rate in the last 8 years after jumping 131% and an increase of EGP 3.04 bn during the first 9 months of 2024, registering EGP 5.36 bn, compared to EGP 2.32 bn during the first 9 months of 2023.

Net fees and commissions income grew by 1034% and increased by EGP 1.10 bn, registering EGP 1.21 bn in the first 9 months of 2024, compared to 106.28 million during the same period in 2016.

Over the past year, the Bank's net fee and commission income grew by 43.80% and increased by EGP 367.25 mn during the first 9 months of 2024 after registering EGP1.21 bn, compared to EGP 838.37 mn during the first 9 months of 2023.

In general, the efforts of Khaled and his team, ABK-Egypt, have pushed towards record growth rates over the past year. The Bank's total customer loans jumped by 44.20% during the first 9 months of 2024, registering EGP 67.78 bn by the end of last September, compared to EGP 47 bn by the end of December 2023, with an increase of EGP 20.77 bn.

The volume of the Bank's customer deposits rose by 40.87%, marking an increase of EGP 33.95 bn during the first 9 months of last year, moving from EGP83.06 bn by the end of December 2023, reaching EGP117.01 bn by the end of September 2024.

In terms of the financial position of ABK-Egypt, its total assets increased by 40.22% and an increase of EGP 39.25 bn during the first 9 months of last year, registering EGP 136.86 bn by the end of September 2024, compared to EGP 97.61 bn by the end of December 2023.