Ahli United Bank adds EGP16.26 bn to its deposit portfolio during 2022

The deposit portfolio of Ahli United Bank - Egypt witnessed a remarkable growth during 2022, as it jumped by 30.37%, to reach EGP69.8 bn at the end of last year, compared to EGP53.5 bn at the end of 2021.

Despite the success of the bank in increasing its deposit portfolio by EGP 16.26 bn, this was not sufficient to support its market share or even ensure that it does not decline.

The bank lost 0.02% of its total share in this market over the past year, as its share declined to 0.81% of total banking sector deposits at the end of 2022, compared to 0.83% at the end of 2021.

First Bank shows Ahli United Bank's deposit portfolio evolution in various currencies during 2022 and the share of each of them in the total portfolio.

Deposit portfolio of Ahli United Bank - Egypt in EGP increased by 19.30%, to reach EGP54.58 bn by the end of 2022, compared to EGP45.75 bn by the end of 2021.

EGP acquired the largest share of the bank’s deposits, as its share reached 78.19% by the end of 2022.

Despite the bank’s success in adding EGP8.82 bn to its deposit portfolio in EGP, this was not enough to increase its market share or even stabilize it, as its share declined to 0.77% of the total banking sector deposits in local currency by the end of 2022, compared to 0.81% by the end of 2021.

Deposit portfolio of Ahli United Bank - Egypt in foreign currencies jumped by 95.55%, to reach EGP15.22 bn by the end of 2022, compared to EGP 7.78 bn by the end of 2021.

Ahli United Bank deposits in foreign currencies acquired 21.81% of the bank’s total deposits by the end of 2022.

The increase achieved by the bank in its deposit portfolio in foreign currencies, which reached EGP7.44 bn, succeeded in increasing its share in this market to 1.01% of the total deposits of the banking sector in foreign currencies by the end of 2022, compared to 0.96% by the end of 2021.

The bank’s customer deposits in Euros were the fastest growing during 2022, as they jumped by 153.25%, to reach EGP1.62 bn at the end of last year, compared to EGP638.85 mn at the end of 2021, an increase of EGP979.05 mn.

The deposits of Ahli United Bank - Egypt in Euro acquired 2.32% of the bank’s total deposits by the end of 2022.

Moreover, deposits in US dollars jumped by 90.53% over the past year, to reach EGP13.45 bn by the end of 2022, compared to EGP7.06 bn by the end of 2021, an increase of EGP6.39 bn, constituting 19.28% of the bank’s total deposits.

The bank’s deposit portfolio in sterling pounds rose by 40.60%, to jump EGP 81.16 mn by the end of 2022, compared to EGP 57.73 mn by the end of 2021, an increase of EGP23.44 mn, constituting 0.12% of the total deposit portfolio.

While the bank’s deposits in other currencies increased to EGP 66.68 mn by the end of 2022, compared to EGP25.07 mn by the end of 2021, with a growth rate of 166% on an annual basis, and an increase of EGP41.61 mn.

Deposits in other foreign currencies acquired a very small share of the total bank deposits, reaching 0.10% by the end of 2022.

It is worth noting that corporate deposits at Ahli United Bank - Egypt witnessed a significant growth over the past year, as it jumped by 37.81%, to reach EGP55.77 bn by the end of 2022, compared to EGP40.47 bn by the end of 2021, an increase of EGP15.30 bn.

The bank's individual deposits portfolio rose slightly, reaching EGP14.03 bn at the end of 2022, compared to EGP13.07 bn at the end of 2021.

In general, Ahli United Bank performed well during the past year, as its net profits jumped by 72.1%, to record EGP2.007 bn in 2022, compared to EGP1.153 bn in 2021, an increase of EGP854.3 mn.

The bank strengthened its financing until its loan portfolio increased to EGP53.5 bn by the end of 2022, compared to EGP39.1 bn by the end of 2021, achieving a growth rate of 36.81% over the past year, and an increase of EGP14.4 bn.

The bank expanded its business volume and strengthened its financial position, as its assets portfolio increased by 33.04%, recording about EGP 85.5bn at the end of 2022, compared to EGP 64.3bn at the end of 2021, achieving an increase of EGP 21.2bn.