KFH's Retail deposits jump by 162% over the last 5 years

Kuwait Finance House - Egypt "Ahli United Bank Egypt" has witnessed a remarkable development in its performance in recent years, especially in the retail deposit sector, which has achieved record growth to reflect the success of the Bank's strategies in enhancing its savings attractiveness, with the size of its retail deposit portfolio jumping by 162.2% over the last 5 years.

This came after the portfolio increased by EGP 15.84 bn during the period under analysis to score 25.61 billion pounds by the end of December 2024, compared to 9.77 billion by the end of December 2019, reflecting the growing customer confidence in the bank and its ability to provide competitive banking solutions that meet the needs of the Egyptian market.

Tracking the growth of the portfolio over the period under analysis, Kuwait Finance House (KFH) achieved the highest annual growth rate in its retail deposit volume in 2021 by 46.11%, after the total portfolio moved from Pound8.95 billion by the end of December 2020, reaching 13.07 billion by the end of December 2021, with an increase of Pound4.13 billion.

Over the past year, the Bank saw its second fastest annual growth rate in its individual deposit portfolio at 39.10%, with an increase of 7.20 billion pounds, the highest ever, after rising to 25.61 billion pounds by the end of December 2024, compared to 18.41 billion by the end of December 2023.

Overall, Kuwait Finance House was able to achieve strong results in its main financial indicators over the past year. The bank's net profit rose by 65.11% and an increase of 2.16 billion pounds, registering 5.47 billion pounds in 2024, compared to 3.31 billion in 2023.

The bank's portfolio of assets rose by 27.02% and an increase of 30.58 billion pounds over the past year, reaching 143.79 billion pounds by the end of December 2024, compared to 113.21 billion by the end of December 2023.

The bank's customer deposits portfolio also rose by about 30.02% and an increase of about 27.03 billion pounds over the past year, registering 117.09 billion pounds by the end of December 2024, compared to 90.06 billion by the end of December 2023.