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.
