EGBANK grows 14.21% on First Bank’s composite growth index During 2022

Egyptian Gulf Bank-EGBank recorded a composite growth rate of 14.21% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio at the end of Dec- 2022, according to its latest separated financial results.

This rate was measured through a composite growth index developed by First Bank to identify the financial performance of banks with a single figure during -2022

EGBANK was able to achieve positive results in all four sub-indicators net profit which formulated First Bank composite growth index, led by net profit that recorded a growth rate of 22.98% During 2022 to reach EGP 855.53million at  2022, compared to EGP 695.66 million at 2022

Furthermore, the bank's loans and facilities to customers come second place it jumped by 14.38% to record EGP 28.45 billion at the end of 2022, compared to EGP 24.87 billion at the end of 2021 with an increase of EGP 3.58 billion

In addition , the total deposits portfolio recorded a growth rate of 11.33% during a last year posted EGP 71.72 billion by the end of December 2022 in comparison to EGP 64.42 billion by the end of Dec  2021 with growth amounting to EGP 7.30 billion.

However, the assets portfolio jumped by 8.13% to stand at EGP 86.73 billion at the end of December 2022, compared to EGP 80.21 billion by the end of December 2021 with an increase of EGP 6.52 billion.