EG Bank’s Resources Employment Rate declines to 83.50% At 2022

Egyptian Gulf Bank-Egypt witnessed a decline in its resources employment rate by 83.50% at the end of 2022, compared to 92.67% at the end of 2021.

The resources employment indicator, launched by First Bank, measures to what extent the bank is employing its traditional resources (deposits + shareholders’ Equity) in loans and financial investments.

The decline in this indicator during 2022 reflects EG bank's conservative policy in employing its resources during this period.

The bank has invested EGP 64.33 bn of its traditional resources, EGP 77.4 bn, by the end of 2022 into loans and financial investments, It invested EGP28.45bn into Total customer loans and EGP 35.88 bn into financial investments.

While the bank directed EGP65.03bn of its traditional resources, which recorded EGP 70.17 bn by the end of 2021 into total customer loans and financial investments, as it invested EGP24.87bn into total loans and EGP40.16 bn into financial investments.

The bank's traditional resources at the end of 2022 were distributed between EGP 71.72bn into its deposit portfolio, and EGP 5.32 bn into shareholder’s Equity at the end of the same period.

Furthermore, Bank’s Loans to deposit ratio increased to 39.66% at the end of 2022, compared to 38.6% at the end of 2021, while the financial investments to deposits ratio fell to 50.03% at the end 2022 compared to 62.33% at the same comparable period.

The decline in this index reinforced its distance from the value of employment index at the level of the banking sector, which recorded 90.56% by the end of 2022, which indicates a conservative policy towards loans and financial investments during the past year.