Ahli United Bank's resources employment rate declines to 84.52% by June-2023 end

Resource employment rate for Ahli United Bank -Egypt declined to 84.52% by the end of June 2023. The bank experienced a decrease of approximately 3.20% in its resource employment rate, reaching 84.52% by the end of June 2023, compared to 87.72% at the end of 2022.

This indicator, introduced by First Bank, measures the traditional resource employment rate (deposits + equity) in (loans + financial investments) for banks operating in the Egyptian banking sector.

The decline in resource employment rate at Ahli United Bank is attributed to its conservative approach during the first 6 months of 2023.

Looking at separate financial statements of Ahli United Bank for the period ending on June 30, 2023, they employed EGP81.73 bn from traditional resources, which recorded EGP96.70 bn at the end of the first half of 2023 in the categories of loans and financial investments, with EGP20.46 bn for financial investments and EGP61.2 bn for total loans.

On the other hand, they employed EGP70.46 bn from traditional resources, which recorded EGP80.32 bn at the end of December of the previous year in the categories of loans and financial investments, with EGP16.97 bn for financial investments and EGP53.5 bn for total loans at the end of 2022.

Regarding the distribution of traditional resources for the bank at the end of June 2023, they were distributed among EGP84.34 bn in the value of customer deposits and equity, which recorded EGP 12.36 bn at the end of the same period.

As for loans to deposit ratio, it declined to 72.65% by the end of June 2023, compared to 76.64% at the end of 2022.

Meanwhile, the percentage of financial investments to deposit ratio remained relatively stable at the bank, registering 24.27% at the end of June 2023, compared to 24.31% at the end of 2022.

The decline in the employment index at the bank during the first half of 2023 has led to its deviation from the average of the Egyptian banking sector, where the employment index for the banking sector was approximately 91.92% at the end of March 2023, according to the latest data from the Central Bank of Egypt.

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