Kuwait Finance House-Egypt's liquidity ratio rises to 27.64% by the end of 2024

The separate financial statements of Kuwait Finance House-Egypt, ended December 31, revealed that the bank's liquidity rate rose to 27.64% by the end of 2024, compared to 23.44% by the end of 2023.

This rate is an indicator of the Bank's financial health and its ability to cover deposits and other financial liabilities in the short term, but may be an indicator of low profitability if liquidity is not effectively exploited in profitable investments.

Cash and balances due from the Central Bank of Egypt recorded 15.29 billion pounds by the end of 2024, compared to 15.07 billion pounds by the end of 2023, increasing by 1.5% and achieving an increase of 222 million pounds over the past year.

Cash and balances due from the Central Bank of Egypt were distributed by the end of last year as follows: 14.50 billion pounds in compulsory reserves and 787 million pounds in cash.

In terms of balances Due from banks, "Kuwait Finance House - Egypt" jumped by 113.31% and an increase of 12.99 billion pounds over the past year, reaching 24.46 billion pounds by the end of 2024, compared with 11.47 billion by the end of 2023.

Bank balances in Kuwait Finance House were distributed at the end of December as follows: Pound3.43 billion as balances with the Central Bank of Egypt (not including the mandatory reserve ratio), Pound118 million with local banks, and Pound20.91 billion with external banks.

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

Notwithstanding the remarkable rise in the liquidity rate of Kuwait Finance House - Egypt, it achieved strong growth in net profits, rising by 65.11%, to 5.47 billion pounds in 2024, compared to 3.31 billion pounds in 2023, an increase of 2.16 billion pounds.

The bank's main share profits rose by 65.65% to 4.87 pounds per share in 2024, compared to 2.94 pounds per share in 2023.