Ahli United Bank grows by 51.03% on First Bank Composite Growth Index during H1-2023

The separate financial statements of Ahli United Bank- Egypt, which ended on June 30, 2023, revealed that the Bank recorded a compound growth rate of 51.03% during the first half of Current year.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure, in all branches of activity that include net profits, deposit, loan, and asset portfolios, during the period from January to June 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 143.26% to record EGP 2.185 bn during H1- 2023, compared to EGP 898.2 mn at the same period of 2022.

In addition, Total Assets came in second place, Jumping EGP 107.3 bn by June 2023end, compared to EGP 85.5 bn at the end of 2022, achieving a growth rate of 25.53%, and an increase of EGP 21.8 bn.

Furthermore, The bank's customer deposit portfolio came in third place with a growth rate of 20.83% in H1-2023, to record EGP 84.3 bn by the end of June 2023, compared to EGP 69.8 bn by the end of 2022، with an increase of EGP 14.5 bn.

Total loans and facilities to customers surged with a growth rate of 14.53% during the first half of current year, bringing the total portfolio from EGP 53.5 bn at the end of December 2022 to reach EGP 61.3 bn by June 2023end, achieving an increase of EGP 7.8 bn.