ABK-Egypt’s Loans to deposit ratio rose to 54.65% by June 2023End

The separate financial statements of Al-Ahli Bank of Kuwait - Egypt, which ended on June 30, 2023, have revealed an increase inLoans to deposit ratio with a rate of 54.65% at the end of June 2023 compared to 52.38% at the end of December 2022.

The bank has achieved remarkable growth in its main indicators, as net profits increased by a growth rate of 91.6% during the first half of current year, to record EGP1.7 bn during the first half of 2023, compared to EGP886.7 mn during the same period of 2022, with an increase of EGP812.1mn.

The bank was able to increase its deposit portfolio by EGP 5.2 bn, achieving a growth rate of 7.92% during the first half of this year, to record EGP 71.4 bn by the end of June 2023, compared to EGP 66.2 bn by the end of December 2022.

The bank was able to raise granting of credit to customers by EGP4.4 bn, as the Total portfolio of customer loans increased by 12.61% during the first half of the current year, to exceed EGP39 bn by the end of June 2023, compared to EGP 34.7 Bn by the end of December 2022.

At the level of financial position, ABK- Egypt achieved a growth rate of 11.73% during the first half of this year, as total assets recorded around EGP84.5 bn by the end of June 2023, compared to EGP75.6 bn by the end of December 2022, achieving an increase of EGP8.9 bn.