Slight Decline in Non-Performing Loan Ratio at EBank to 3.34% by March-2023end
EBank has managed to reduce the non-performing loan ratio to total loans during the first quarter of the current year, reaching 3.34% by the end of last March, compared to 3.59% by the end of 2022.
The decrease can be attributed to the success of EBank in reducing the ratio of non-performing loans for corporates to the bank's total financing for corporates, which stood at 3.56% by the end of March 2023, compared to 3.84% by the end of 2022.
This decline comes despite an increase in the value of corporate defaults by 9.27%, reaching EGP 1.69 bn by the end of March 2023, compared to EGP 1.55 bn by the end of last year.
The default ratio for Retail also decreased to 1.36% by the end of March 2023 from the bank's total Retail financing, compared to 1.41% by the end of 2022.
This is despite the increase in the value of Retail defaults to EGP 71.83 mn by the end of March 2023, compared to EGP 64.04 mn by the end of 2022, with a growth rate of 12.18% and an increase of EGP 7.8 mn.
These figures are remarkable, despite the rise in the ratio of deposit utilization in loans at Export Development Bank, which is considered one of the highest banks listed on the Egyptian Stock Exchange in terms of deposit utilization for granting loans by the end of March 2023, with a utilization rate of 65.59%.
