CIB’s resources employment rate records 74.4% in Q1- 2023
First Bank
Commercial International Bank witnessed a slight decrease in its resources employment rate by 74.4% in Q1-2023, compared to 76.41% at the end of 2022.
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 decrease in the index indicates the bank’s conservative policy in employing its resources during this period.
The bank has invested EGP 473.728bn of its traditional resources, which recorded EGP 636.24 bn, by the end of Q1- 2023 into loans and financial investments, It invested EGP 218.63bn into Total customer loans and EGP 238.17 bn into financial investments.
While the bank directed EGP 456.80 bn of its traditional resources, which recorded EGP 597.85 bn by the end of 2022 into total customer loans and financial investments, as it invested EGP 218.63 bn into total customer loans and EGP 238.17 bn into financial investments
The bank's traditional resources at the end of March 2023 were distributed between EGP 574.11 bn into its deposit portfolio, and EGP 62.12 bn into shareholder’s Equity at the end of the same period.
Furthermore, CIB’s Loans to deposit ratio rose to 42.39% at the end of March 2023, compared to 41.24% at the end of 2022, while financial investments to deposit ratio declined to 40.12% at the end of March 2023 compared to 44.9% at the same comparable period.
The decline in the bank's employment index during Q1- 2023, strengthened distance from the average sector, as the employment index of the banking sector recorded about 91.22% by the end of February 2023, according to the latest data of the Central Bank of Egypt.
