Alex Bank sees a slow-down by 6.95% during Q4-22 On First bank’s Composite Growth Index
Alex Bank’s growth declines during the Q4 of 2022 recording a composite growth rate of 6.95%, compared to a composite growth rate of 7.02% 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.
Alex Bank 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 has seen a record growth rate of 11.43% during Q4-2022.
The bank’s Total customer loans increased by 3.68%during Q4-2022
It also achieved a growth in both assets and deposit portfolios by 5.82%and 6.88% respectively, 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 20.7%.
The bank’s Total loans & facilities to customers decreased by 0.43% during Q3-22,while asset and deposit portfolios increased by 4.35% and 3.45%,respectively at same period of 2022.
