EBank customer deposits grow by 18.3%, recording EGP 86.2 bn At 9M-2023
First Bank
The separate financial statements of the Egyptian Export Development Bank for the fiscal year ending on September 30th revealed a growth in the customer deposit portfolio by approximately 18.3%, with an increase of EGP13.3 bn during the first 9 months of 2023.
The portfolio of customer deposits at the bank reached about EGP86.177 bn by the end of September 2023, compared to EGP72.854 bn by the end of December 2022.
Corporate deposits portfolio grew by 18.70% during the first 9 months of the current year, reaching a value of EGP70.826 bn by the end of September 2023, compared to EGP59.669 bn by the end of December 2022.
The total portfolio of individual deposits increased by 16.43% during the first 9 months of the current year, rising from EGP13.185 bn at the end of December 2022 to EGP 15.351 bn by the end of September 2023.
The increase in the total customer deposits portfolio is attributed to the rise in corporate deposits portfolio by EGP11.16 bn during the first 9 months of 2023, while retail deposits increased by EGP2.17 bn during the same period.
Examining the components of the customer deposits portfolio, “on-demand deposits” surged by 34.79% with an increase of EGP 10.34 bn during the first 9 months of the current year, reaching approximately EGP40.05 bn by the end of September 2023, compared to EGP 29.71 bn by the end of December 2022.
The portfolio of “savings and time deposits” increased by 11.94% with an increase of EGP1.26 bn during the first 9 months of the current year, totaling EGP11.80 bn by the end of September 2023, compared to EGP10.54 bn by the end of December 2022.
Additionally, the size of the “term and notice deposits” portfolio increased by 4.69%, registering an increase of EGP1.43 bn during the first 9 months of the current year, reaching EGP 31.85bn by the end of September 2023, compared to EGP30.42 bn by the end of December 2022. The portfolio of other deposits also jumped by 13.84% during the same period.
