EBank Tops Listed Banks in Asset Coverage Ratio for Deposits by March-2023end

EBank has secured the top spot on the list of listed banks in terms of asset coverage ratio for deposits, maintaining its leadership position after leading the listed banks in 2022.

The coverage ratio at EBank reached 129.06%, with total assets recorded at around EGP103.7 bn, while deposits amounted to EGP80.3 bn by the end of March 2023.

This ratio is remarkably high and reflects the bank's strong ability to fulfill its obligations towards depositors. Deposits represent 77.48% of the bank's total assets by the end of March 2023.

Overall, EBank enjoys strong financial safety indicators, with non-performing loans accounting for 3.34% of its total loans at the end of the first quarter of 2023, slightly down from 3.59% at the end of 2022.

Regarding its capital adequacy ratio, the ratio stood at 13.95% by the end of March 2023, compared to 15.95% at the end of 2022. Despite this decline, the bank remains within safe limits, surpassing the regulatory threshold set by the Central Bank of Egypt, in accordance with Basel regulations, which is 12.5%.

In terms of the leverage ratio, which reflects the relationship between the first-tier capital used in the capital adequacy ratio (after deductions) and the bank's assets (on and off the balance sheet) weighted by risk, the bank recorded a ratio of 7.58% by the end of March 2023, compared to 8.10% at the end of 2022.

It is worth mentioning that despite this decline, the bank still exceeds the regulatory threshold set by the Central Bank of Egypt, according to Basel regulations, which is 3%.