alBaraka Bank’s resources employment rate jumps to 85.78%, Led by Hazem Hegazy
First Bank
alBaraka Bank -Egypt witnessed a leap in its resources employment rate by 85.78% in Q1-2023, compared to 81.74% 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 increase in the index indicates that the bank followed an expansionary policy in employing its resources during Hazem Hegazy’s era.
The bank has invested EGP 71.38 bn of its traditional resources, which recorded EGP 83.22 bn, by the end of Q1- 2023 into loans and financial investments, It invested EGP 37.97bn into Total customer loans and EGP 33.42 bn into financial investments.
While the bank directed EGP 67.03 bn of its traditional resources, which recorded EGP 82.01 bn by the end of 2022 into total customer loans and financial investments, as it invested EGP 35.38 bn into total customer loans and EGP 31.65 bn into financial investments.
The bank's traditional resources at the end of March 2023 were distributed between EGP 75.46 bn into its deposit portfolio, and EGP 7.76 bn into shareholder’s Equity at the end of the same period.
Furthermore, alBaraka Bank’s Loans to deposit ratio jumps by 50.31% at the end of March 2023, compared to 47.54% at the end of 2022, while financial investments to deposit ratio rose to 44.29% compared to 42.53% at the same comparable period.
