ABK - Egypt achieves a significant rise in profitability indicators during 2024

Al Ahli Bank of Kuwait (ABK) Egypt has been able to achieve outstanding performance in its profitability indicators over the past year. This is in light of the Bank's continued strong performance since entering the Egyptian market in 2016, under the leadership of Khaled El Salawy, CEO, Managing Director and his Team.

The following analysis reviews the Bank's progress in profitability indicators in 2024:

The separate financial statements of ABK-Egypt, which ended on December 31, revealed that the rate of return on the bank's average equity rose to 52.56% in 2024, compared to 35.93% in 2023.

The Bank's return on average assets rose significantly to 5.55% in 2024, compared to 3.24% in 2023.

Return on equity and return on assets averages at Abu Dhabi Kuwait-Egypt were due mainly to the bank's achievement of a net profit of Pound6.6 billion over the past year, compared to 2.8 billion during 2023, with a growth rate of 137%.

In terms of profits per share, ABK-Egypt recorded a growth rate of 145.07%, with ABK-Egypt's share share of net profits of around Pound19.9 in 2024, compared to Pound8.12 in 2023.

ABK - Egypt has grown its equity by 69.19% and recorded an increase of 6.5 billion pounds over the past year, bringing its portfolio to 15.89 billion pounds by the end of 2024, compared with 9.39 billion by the end of 2023.

The Bank's portfolio of assets increased by 45% and an increase of 43.99 billion pounds over the past year, registering 141.6 billion pounds by the end of 2024, compared with 97.6 billion by the end of 2023.

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