Alex Bank’s net profits grow by 94%, recording EGP 4 bn At 9M- 2023
First Bank
The financial statements of Alex Bank, recently announced on the bank’s official website, revealed a 94% growth in its net profits, reaching EGP 4.004 bn during the first 9 months of 2023, compared to EGP 2.069 bn during the same period in 2022, with an increase of EGP 1.935 bn.
The bank achieved a growth in pre-tax profits by 89.09%, with an increase of EGP 2.721 bn, totaling EGP 5.776 bn during the first 9 months of 2023, compared to EGP 3.055 bn during the same period in 2022.
Total portfolio of the bank’s assets increased by 14.11%, with an increase of EGP 18.8 bn during the first 9 months of the current year, reaching EGP 151.8 bn by the end of September 2023, compared to EGP 133.1 bn by the end of December 2022.
The size of the bank’s deposit portfolio also increased by 11.49% during the first 9 months of the current year, recording EGP 123.4 bn by the end of September 2023, compared to EGP 110.7 bn by the end of December 2022, with an increase of EGP 12.7 bn.
Moreover, total portfolio of loans and facilities to customers increased by 3.22%, with an increase of approximately EGP 1.9 bn during the first 9 months of the current year, reaching EGP 61.5 bn by the end of September 2023, compared to EGP 59.6 bn by the end of December 2022.
