Emirates NBD’s resources employment rate declines to 78% in Q1- 2023
First Bank
Resources employment rate at Emirates NBD-Egypt declined to 78% in Q1-2023, compared to 79.59% at the end of 2022, with a decrease of 1.60%.
The Bank achieved an expansionary policy during 2021, as the resources employment rate reached 92.67% at the end of 2021.
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 76.24 bn of its traditional resources, which recorded EGP 97.74 bn, by the end of Q1- 2023 into loans and financial investments, It invested EGP 52.34 bn into Total customer loans and EGP 23.9 bn into financial investments.
While the bank directed EGP 74.60 bn of its traditional resources, which recorded EGP 93.73 bn by the end of 2022 into total customer loans and financial investments, as it invested EGP 46.40 bn into total customer loans and EGP 28.2 bn into financial investments.
The bank's traditional resources at the end of March 2023 were distributed between EGP 88.73 bn into its deposit portfolio, and EGP 9.01 bn into shareholder’s Equity at the end of the same period.
Furthermore, Emirates NBD’s Loans to deposit ratio rose to 58.99% at the end of March 2023, compared to 54.45% at the end of 2022, while financial investments to deposit ratio declined to 26.93% compared to 33.09% at the same comparable period.
The decline in the bank's employment index during Q1- 2023, strengthened its distance from the average sector, as the employment index of the banking sector recorded 91.92% by the end of March 2023, according to the latest data of the Central Bank of Egypt
