Alex Bank’s resources employment rate rose to 76.65% in Q1- 2023

Alex Bank of Egypt witnessed an increase in its resources employment rate by 76.65% in Q1-2023, compared to 73.17% at the end of 2022.

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

The increase in the index indicates that the bank followed an expansionary policy in employing its resources during at Q1-2023

The bank has invested EGP 98.47bn of its traditional resources, which recorded EGP 128.46 bn, by the end of Q1- 2023 into loans and financial investments, It invested EGP 60.47bn into Total customer loans and EGP 37.99 bn into financial investments.

While the bank directed EGP 91.9 bn of its traditional resources, which recorded EGP 125.6 bn by the end of 2022 into total customer loans and financial investments, as it invested EGP 59.6bn into total customer loans and EGP 32.3 bn into financial investments

The bank's traditional resources at the end of  March 2023 were distributed between EGP 112.924bn into its deposit portfolio, and EGP 15.54 bn into shareholder’s Equity at the end of the same period.

Furthermore, Alex Bank’s Loans to deposit ratio declined to 53.55% at the end of March 2023, compared to 53.85% at the end of 2022, while financial investments to deposit ratio rose to 33.64% at the end of March 2023 compared to 29.20% at the same comparable period.

Despite the increase in the bank's employment index during Q1- 2023, the value of the index, which recorded 76.65%, remained lower than the sector average.