EBank’s Standard Performance in Corporate Deposit Market During 2023
First Bank
The Egyptian Export Development Bank "Ebank" tops listed banks in focusing on corporate deposits by the end of September, after its corporate deposit portfolio accounted for 82.19% of the bank's total customer deposit portfolio.
The portfolio of corporate deposits rose by 18.7% in the first 9M of this year, registering EGP 70.8 bn by the end of September 2023, compared to EGP 59.7 bn by the end of 2022.
The Bank's deposit portfolio jumped by 18.3% and with an increase of EGP 13.3 bn during the first 9M of 2023, reaching EGP 86.2 bn by the end of September 2023, compared to EGP 72.9 bn by the end of 2022.
In addition, EBank has been performing strongly since early this year, rising its net profit by 128.4% in the first 9M of 2023, reaching EGP 2.2 bn from January to September 2023, compared to EGP 944 mn during the same period last year, with an increase of EGP 1.2 bn.
Net fees and commissions income rose by 219.5%, registering EGP 1.1 bn in the first 9M of 2023, compared to EGP 335.4 mn in the same period of 2022, with an increase of EGP 736.2 mn.
Meanwhile, Net interest income jumped to EGP 3.8 bn during the first 9M of 2023, compared to EGP 2.1 bn during the same period of 2023, with a growth of 82.4% and an increase of EGP 1.7 bn.
The bank's assets rose by EGP 13.4 bn, reaching EGP 110.2 bn by the end of Q3 of 2023, compared to EGP 96.8 bn by the end of 2022, with growth of 13.9%.
Net customer loans jumped by 20% to EGP 52 bn by the end of September 2023, compared to EGP 43 bn, with an increase of EGP 9 bn.
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