A Leap in ABK-Egypt loans to deposit ratio, soaring to 58.67% by Sep-2023end
First Bank
A significant increase in Loans to Deposit ratio at ABK-Egypt, reaching 58.67% by the end of September 2023, compared to 52.38% in December 2022.
The bank achieved notable growth with an 83.70% increase in net profits, reaching EGP2.32 bn in the first 9 months of 2023, compared to EGP1.26 bn in the same period in 2022.
The bank also expanded its deposit portfolio by EGP7.63 bn, showing a growth rate of 11.53% in the first 9 months of the current year, totaling EGP73.78 bn by the end of September 2023.
Additionally, credit extended to customers increased by EGP8.64 bn, with the total loan portfolio growing by 24.93% to EGP43.29 bn by September 2023.
Financially, the bank experienced a 19.57% growth, with total assets reaching EGP90.40 bn by the end of September 2023, compared to EGP75.60 bn in December 2022, reflecting an increase of EGP14.80 bn.
