Alex Bank’s net profit jumps by 116%, records EGP 1.178 bn At Q1-2023
The Separate Financial Statements of Alex bank, which ended on March 31, 2023, revealed an increase in the bank’s net profit, with a growth rate of 116%, with an increase of EGP632.8mn to record EGP 1.178 bn during the first quarter of 2023, compared to EGP545.7 mn during the same period of 2022.
Alex Bank’s pre-taxes profits jumped to reach EGP 1.639 bn during the first quarter of 2023 compared EGP 869 mn during the same quarter of 2022, and an increase of EGP 769.6mn
The bank’s total deposit portfolio increased, after the bank was able to increase its deposits by EGP 2.2 bn, to record EGP112.9 bn at the end of March 2023, compared to EGP 110.7 bn at the end of December 2022.
Total assets of the bank recorded EGP 137.6 bn at the end of March 2023, compared to EGP133.1 bn at the end of December 2022, an increase of EGP4.5 bn.
Total loans and facilities to customers increased to reach EGP 60.5 bn at the end of March 2023, compared to EGP 59.6 bn at the end of December 2022. with an increase of EGP 866 mn
