Ahli United Bank’s growth accelerates to 78.97% during Q1-2023
First Bank
Ahli United Bank’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 78.97%, compared to 22.94% 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 277.61% during Q1-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 8.81% during Q1-2023, and an increase in both asset and deposit portfolios by 15.28% and 14.17%, 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 74.33%.
The bank’s Total deposit portfolio increased by 4.74% during Q4-22, asset as well as loan portfolios increased by 6.81% and 5.88%, 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 Ahli United Bank
| # | Indicators | Value At Q1-2023 | Growth rate % | Value At Q4-2023 | Growth rate % |
|---|---|---|---|---|---|
| 1 | Net Profits | 1.575 Billion pounds | 277.61 % | 616.131 million pounds | 74.33 % |
| 2 | Total Assets | 98.557 Billion pounds | 15.28 % | 85.492 Billion pounds | 6.81 % |
| 3 | Total customer deposits | 79.687 Billion pounds | 14.17 % | 69.799 Billion pounds | 4.74 % |
| 4 | Total customer loans | 58.21 Billion pounds | 8.81 % | 53.495 Billion pounds | 5.88 % |
| 5 | Composite Growth | 78.97 % | 22.94 % |
