Egyptian Gulf Bank continued its growing interest in personal loans finance, as personal loans obtained 28.17%

Analysis

EGBANK tops listed banks in focusing on personal loans finance by end of 2022

3/19/2023 9:45:00 AM

Egyptian Gulf Bank continued its growing interest in personal loans finance, as personal loans obtained 28.17% of the bank’s total loans portfolio, topping First Bank list in focusing on personal loans by end of 2022.

EGBANK manages a large personal loans finance portfolio, reached EGP8.01 bn at the end of 2022, compared to EGP7.74 bn at the end of 2021, achieving a growth rate of 3.54%, and an increase of EGP 274.19 mn.

Total loans portfolio reached EGP28.45 bn by the end of 2022, compared to EGP 24.87 bn by the end of 2021, with a growth rate of 14.38%, and an increase of EGP3.58 bn.

EGBANK's individual finance portfolio jumped by 4.09%, to reach EGP 8.54 bn at the end of 2022, compared to EGP8.21 bn at the end of 2021, an increase of EGP335.61 bn.

Corporate finance portfolio also jumped from EGP 16.66 bn at the end of 2021 to EGP 19.90 bn at the end of 2022, with a growth rate of 19.45%, an increase of EGP 3.24 bn.

Net profits increased by 22.98%, to reach EGP855.526 mn in 2022, compared to EGP695.658 mn in 2021, an increase of EGP159.868 mn.

The bank's asset portfolio grew by 8.13%, reaching EGP 86.735 bn by the end of 2022, compared to EGP 80.212 bn by the end of 2021, an increase of EGP6.523 bn

While the bank's financial investments declined by 10.64%, to record EGP35.881 bn by the end of 2022, compared to EGP40.155 bn by the end of 2021, losing EGP4.274 bn.

Deposit portfolio increased by 11.33%, to reach EGP71.722 bn by the end of 2022, compared to EGP 64.423 bn by the end of 2021, an increase of EGP7.299 bn.