EBank’s Board of Directors Approves an Increase in its Issued and Paid-Up Capital to EGP 7.44 Bn

Egyptian Export Development Bank “EBank” announced today, in a statement to the Egyptian stock exchange, the approval of its board of directors for a model of disclosure regarding the increase of the bank’s issued and paid-up capital from EGP6.601 bn to EGP 7.441 bn.

The increase in the issued and paid-up capital amounted to approximately EGP840.144 mn, with a distribution of 0.127276033 per share.

It’s noteworthy that the bank announced this morning its separate financial statements, revealing a net profit increase of 128.4%, reaching EGP 2.156 bn during the first 9 months of 2023, compared to EGP943.7 mn during the same period in 2022, with an increase of EGP1.212 bn.

The bank increased credit facilities to its customers by EGP9.565 bn, as the total portfolio of loans and customer facilities grew by 20.67% during the first 9 months of the current year, reaching EGP 54.082 bn by the end of September 2023, compared to EGP44.817 bn at the end of December 2022.

The bank also succeeded in increasing the total deposits portfolio of its customers by EGP13.323 bn, growing at a rate of 18.29% during the first 9 months of the current year, reaching EGP 86.177 bn by the end of September 2023, compared to EGP 72.854 bn at the end of December 2022.

Furthermore, total assets of the bank increased by a growth rate of 13.89%, with an increase value of EGP 13.444 bn during the first 9 months of the current year, reaching EGP110.2 bn by the end of September 2023, compared to EGP 96.756 bn at the end of December 2022.