Egyptian Gulf Banks growth declines during the Q4 of 2022 recording a composite growth rate of 6.35%, compared

Analysis

EGBANK declines by 6.35% during Q4-22 On First bank’s Composite Growth Index

2/27/2023 3:41:00 PM

Egyptian Gulf Bank’s growth declines during the Q4 of 2022 recording a composite growth rate of 6.35%, compared to a composite growth rate of 8.96% during Q3-2022

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q4-2022.

EGBANK was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), net profit that has seen a record growth rate of 22.41% during Q4-2022.

It also achieved a growth in in both assets and loans portfolios by 0.41%and 5.23 respectively during Q4-2022 , while deposits portfolios decreased by 2.64% at the same period .

The bank’s net profits has also seen an increase in First Bank composite growth index during Q3-22 it achieved a growth of 24.32%.

Moreover, total customer loans have increased slightly by 1.95% during Q3-22. assets and deposits portfolios increased by 5.51% and 4.07%, respectively at same period of 2022.