Export Development Bank of Egypt-EBank recorded a composite growth rate of 52.12% in all its activities that i

Analysis

EBank grows by 52.12% during 2022 On First bank’s Composite Growth Index

3/14/2023 3:38:00 PM

Export Development Bank of Egypt-EBank recorded a composite growth rate of 52.12% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio During 2022, according to its latest separated financial results.

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 2022.

EBank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 145.10% to record EGP 1.229 bn by the end of December 2022, compared to EGP 501.38 mn at the end of December 2021 an increase of EGP 727.5 mn.

The Bank's assets portfolio came in second place, it increased from EGP 76.2 bn at the end of 2021 to EGP 96.7 bn at the end of 2022, achieving a growth rate of 26.93%, and an increase of EGP20.52bn

In addition, deposit portfolio that has seen a record growth rate of 13.16%, reached EGP 72.85bn at the end of December 2022 compared to EGP64.38bn at the end of 2021, an increase of EGP8.47bn.

The bank’s total loan portfolio jumped to EGP44.82 bn by the end of 2022, compared to EGP 36.35 bn by the end of 2021, achieving a growth rate of 23.29%, and an increase of EGP 8.47 bn.