Alex Bank’s growth accelerates to 30.71% during Q1-2023
Alex Bank’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 31.12%, compared to 6.95% during Q4-2022.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q1-2023.
The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 115.97% during Q1-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 1.45% during Q1-2023, and an increase in both asset and deposit portfolios by 2.02% and 7.72%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q4-22 to achieve a growth rate of 11.43%.
The bank’s Total deposit portfolio increased by 6.88% during Q4-22, asset as well as loan portfolios increased by 5.82% and 3.68%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
Indicators of Alex bank
| # | Indicators | Value t Q1-2023 | Growth rate | Value At Q4-2022 | Growth rate % |
|---|---|---|---|---|---|
| 1 | Net profits | 1.179 Billion pounds | 115.97 % | million pounds | 6.95 % |
| 2 | Total Assets | 137.564 Billion pounds | 3.39 % | Billion pounds | 11.43 % |
| 3 | Total customer deposits | 112.935 Billion pounds | 2.02 % | Billion pounds | 5.82 % |
| 4 | Total customer loans | 60.475 Billion pounds | 1.45 % | Billion pounds | 3.68 % |
| 5 | Composite Growth Index | 30.71 % | Billion pounds | 6.88 % |
