Credit Agricole Bank’s resources employment rate declines to 65.14% in Q1- 2023
First Bank
resources employment rate at Crédit Agricole bank-Egypt declined to 65.14% in Q1-2023, compared to 68.65% 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 51.07 bn of its traditional resources, which recorded EGP 78.4 bn, by the end of Q1- 2023 into loans and financial investments, It invested EGP 35.98 bn into Total customer loans and EGP 15.09 bn into financial investments.
While the bank directed EGP 48.34 bn of its traditional resources, which recorded EGP 70.42 bn by the end of 2022 into total customer loans and financial investments, as it invested EGP 35.09 bn into total customer loans and EGP 13.25 bn into financial investments.
The bank's traditional resources at the end of March 2023 were distributed between EGP 67.86 bn into its deposit portfolio, and EGP 10.54 bn into shareholder’s Equity at the end of the same period.
Furthermore, Credit Agricole Bank’s Loans to deposit ratio declined to 53.02% at the end of March 2023, compared to 58.01% at the end of 2022, while financial investments to deposit ratio rose to 22.23% compared to 21.90% 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 91.22% by the end of February 2023, according to the latest data of the Central Bank of Egypt.
