EBank Returns, scores 49 points on First Bank financial soundness index

Export Development Bank of Egypt-EBank returns to scoring 49.05 points by the end of September 2022 on First Bank’s financial soundness index, compared to the sector average of 50 points.

The financial soundness index set by First Bank, measures the strength and soundness of the banks financial positions and their ability to preserve the funds of depositors and shareholders

The financial soundness index is based on six measures: the capital adequacy ratio, the financial leverage ratio, assets to deposits ratio, shareholders equity to deposits ratio, loans to deposits ratio and non-performing loan ratio.

EBank’s capital adequacy ratio reached 16.8% at the end of Q3 of 2022, while the average rate of banks operating Egypt was at 20.50% during the same period, exceeding the regulatory limits set by the Central Bank of Egypt which are consistent with Basel Accord of 12.5.

The bank has been ranked eight on First Bank list of the top banks in terms of capital adequacy ratio on Q3-22. The analysis included 11 banks operating in the Egyptian banking sector for which financial statements were made available

Moreover, the bank’s financial leverage ratio recorded 8.53% at the end of September 2022 above the average rate of banks operating Egypt of 6.7 %.

However, the bank’s ratio of non-performing loans to total loans portfolio recorded 3.71% in Q3-22 higher than an average of 3.2 % of the total banking sector

In addition, the bank’s assets to deposits ratio declined below the banking sector average recording 123% at the end of Sep 2022, compared to an average of 138.14% of the total banking sector during the same period

 Furthermore Ebank has been ranked second on First Bank list of the top banks in terms of assets to deposits ratioat the end of Sep 2022, analysis included 11 banks operating in the Egyptian banking sector

Thus, loans to deposits ratio has seen a remarkable increase record 61.90% at the end of sep 2022, compared to an average 47.40% of the total banking sector during the same period

However, the bank’s shareholders equity to Deposits ratio recorded 13.01% at the end of Sep 2022 exceeding the average of the total banking sector compared at 9.02% during the same period.