The Greater Cairo achieves the highest net profit among E-Bank geographical sectors in 2023

E-Bank saw unprecedented growth in its financial indicators in the first 9 months of the current year, especially in its net profits, which jumped by 128.4%, reaching EGP 2.16 bn from January to September 2023, compared to EGP 944 mn in the same period last year, marking an increase of EGP 1.2 bn.  

According to First Bank analysis of the bank's geographical sector net profit, the Greater Cairo sectors were the most profitable in the first 9 months of the current year, recording EGP 1.48 bn, a 99.5% growth compared to EGP 744 mn in the same period in 2022.  

The Greater Cairo sectors accounted for the largest share of Egyptian Export Development Bank's net profit, with a relative weight of 68.83% during the first 9 months of the current year.  

As for the net profits from Alexandria, Delta, and Sinai sectors, they jumped by 232.05%, reaching EGP 615.3 mn in the first 9 months of the current year, compared to EGP 185.33 mn in the same period in 2022, with an increase of EGP 430 mn. The relative weight of Alexandria and Delta sectors increased to 28.54% from 19.63% in the same period in 2022.  

In terms of E-Bank's net profits from the Western Desert sectors, it experienced the fastest growth among geographical sectors, achieving a record growth of approximately 308.9%, reaching EGP 56.62 mn in the first 9 months of 2023, compared to EGP 13.84 mn in the same period in 2022, with an increase of EGP 42.77 mn.  

Despite the rapid growth in the Western Desert sectors, they still constitute a small percentage of the bank's net profits, with a relative weight of 2.63%.  

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