The financial statements of E Bank for the period ending June 30, 2023, revealed high growth rates in all its

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Local currency accounts for 75.40% of EBank customers' loans by H1-2023 end

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E Bank

 The financial statements of E Bank for the period ending June 30, 2023, revealed high growth rates in all its financial indicators during the first half of this year.

 Net loans of its customers increased by a growth rate of 17.86%, with an increase of approximately EGP7.68 bn, reaching EGP 50.65 bn by the end of June 2023, compared to EGP42.97 bn by the end of 2022.

 The portfolio of E Bank's customer loans in different currencies during the first half of 2023 showed growth. The portfolio of E Bank's customer loans in Egyptian pounds grew by 11.7%, with an increase of EGP4 bn during the first half of this year, moving the loan portfolio from EGP34.19 bn at the end of last year to EGP38.19 bn at the end of the first half of 2023.

 The portfolio of customer loans in local currency accounted for the largest share of the bank's net customer loans, with a relative weight of approximately 75.40% by the end of the first 6 months of this year.

 As for the net loans of its customers in foreign currencies, it increased to the equivalent of EGP12.46 bn by the end of June 2023, compared to the equivalent of EGP8.79 bn by the end of 2022, jumping by a rate of 41.8%, with an increase of approximately EGP3.67 bn.

 The relative weight of E Bank's customer loan portfolio in foreign currencies increased to 24.60% of the net customer loan portfolio by the end of the first half of this year, compared to 20.5% by the end of December 2022.

 The bank's customer loans in US dollars accounted for the largest share of its net customer loans, representing 21.35% of the net customer loans by the end of the second quarter of this year, after increasing by a growth rate of 35.3%, with an increase of approximately EGP 2.82 bn, recording the equivalent of EGP10.82 bn by the end of the first 6 months of 2023, compared to the equivalent of EGP8 bn by the end of 2022.

The bank's customer loans in Euro were the fastest growing among the bank's customer loan portfolio, achieving a growth rate of 109.8% and an increase equivalent to EGP849 mn during the first half of 2023, recording the equivalent of EGP1.62 bn by the end of June, the first half of 2023, compared to the equivalent of EGP773.85 mn by the end of 2022.

 Despite the growth it witnessed, it still represented a small percentage of about 3.20% of the bank's net customer loans by the end of the second quarter of 2023.

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