EBank customer loans soar by 21%, reaching EGP 54.1 bn by Sep-2023end

The separate business results of Egyptian Export Development Bank-EBank ending on September 30, 2023, issued this morning on the Egyptian Stock Exchange website, revealed an increase in the total loans of the bank’s customers by about 21% during the first 9 months of the current year, to record EGP54.082 bn at the end of September 2023, compared to EGP44.817 bn at the end of December 2022, an increase of EGP 9.265 bn.

This growth was contributed by the increase in the total portfolio of the bank’s corporate loans to EGP 47.230 bn at the end of September 2023, compared to EGP40.282 bn at the end of December 2022, to grow at a rate of 17.25%, and an increase of EGP6.948 bn.

On the retail banking level, the volume of the bank’s personal loans portfolio increased by a growth rate of 51.1% and an increase of EGP2.317 bn during the first 9 months of the current year, to reach EGP6.852 bn at the end of September 2023, compared to EGP4.535 bn at the end of December 2022.

In general, EBank achieved a good performance during the current year, as its net profits increased by a growth rate of 128.4%, to record EGP 2.156 bn during the first 9 months of 2023, compared to EGP943.7 mn during the same period of 2022, an increase of EGP1.212 bn.

The bank increased credit grants to its customers by EGP9.565 bn, after the total portfolio of loans and facilities for its customers increased by a growth rate of 20.67% during the first 9 months of the current year, to record EGP54.082 bn at the end of September 2023, compared to EGP44.817 bn at the end of December 2022.

The bank was able to increase the total portfolio of the bank’s customers’ deposits by EGP 13.323 bn to grow by a rate of 18.29% during the first 9 months of the current year, to record EGP86.177 bn at the end of September 2023, compared to EGP 72.854 bn at the end of December 2022.

The bank’s total assets also increased by a growth rate of 13.89% and an increase of EGP13.444 bn during the first 9 months of the current year, to record EGP110.2 bn at the end of September 2023, compared to EGP96.756 bn at the end of December 2022.