Export Development Bank of Egypt EBank was able to jump in its net profit by 74.01%, to record EGP501.799 mn d

Analysis

What are the most profitable geographical sectors from EBank's net profit?

5/24/2023 11:42:00 AM

Export Development Bank of Egypt (EBank) was able to jump in its net profit by 74.01%, to record EGP501.799 mn during the first quarter of 2023, compared to EGP288.380 mn during the same period of 2022, an increase of EGP213.42 mn.

EBank's net profit during the first quarter of this year came from the various regions of Egypt, but Greater Cairo sectors had the greatest impact, as the bank’s net profits reached EGP 341.45 mn during the first 3 months of 2023, compared to EGP199.65 mn during the same period of 2022, achieving a growth rate of 71.03%, and an increase of EGP141.80 mn.

Greater Cairo acquired 68.05% of the bank's net profits during the first quarter of 2023.

Net profits from Alexandria, Delta and Sinai, acquired 30.55% of the bank’s net profits during the first 3 months of 2023, after it increased from EGP82.44 mn during the first quarter of 2022, to EGP153.29 mn during the same period of the current year, achieving a growth rate of 85.95%, an increase of EGP70.85 mn.

Net profit of Upper Egypt reached EGP 7.06 mn during the first quarter of 2023, compared to EGP 6.292 mn during the same period in 2022, achieving a growth rate of 12.14%, and an increase of EGP 764 thousand.

Ebank was able to achieve a good performance during the first quarter of this year, asTotal loans and facilities to customers increased by a growth rate of 17.55% during the first quarter 2023, with an increase of EGP 7.867 bn, to reach EGP 52.685 bn at the end of March 2023, compared to EGP 44.818 bn at the end of December 2022

Moreover, The bank’s total deposit portfolio increased by a growth rate of 10.25% during the first quarter of this year, after the bank was able to increase its deposits by EGP 7.469 bn, to record EGP 80.353 bn at the end of March 2023, compared to EGP 72.854 bn at the end of December 2022.

The bank’s Total assets rose by 7.18% during the first quarter of this year, to record EGP 103.666 bn at the end of March 2023, compared to EGP 96.724 bn at the end of December 2022