EBank scores 53.66 points on First Bank Financial Soundness Index At H1-2023

Egyptian Export Development Bank "Ebank" achieved a score of 53.66 points on First Bank financial Soundness index during the first half of 2023, surpassing the sector average of 50 points on this index by the end of the same period.

The Financial Soundness Index, developed by First Bank’s research center, evaluates the strength and resilience of financial institutions, their financial soundness, and their ability to safeguard the funds of depositors and shareholders.

In addition, the financial soundness index considers 6 metrics: capital adequacy ratio, leverage ratio, asset coverage ratio for deposits, shareholders’ Equity coverage ratio for deposits, loans to deposits ratio, and non-performing loan ratio.

For the first sub-index, capital adequacy ratio, this index registered with the Bank 14.40% by the end of June 2023, Exceeding accordance with Basel conventions of 12.5%.

In terms of the second element, the financial leverage ratio, EBank exceeds the banking sector average, reaching 7.88% by the end of the first half of 2023, compared to the sector’s 6.3% at the end of the same period.

The third element of the First Bank Financial Soundness Index, the non-performing loan ratio, stood at 2.35% by the end of June 2023, compared to the sector’s 3.3% at the end of the same period.

As for the fourth element, loans to deposit ratio (loans/deposits), Ebank achieved about 62.68% by the end of Q2 of 2023, placing third on First Bank list of the best banks included in loans to deposit ratio by the end of June.

Regarding the fifth element, asset coverage ratio for deposits (assets/deposits), 126.92% was recorded by the end of June 2023, compared to 145.67% in the banking sector by the end of the same period, placing ninth on First Bank list of the best banks included in the asset coverage ratio for deposits by the end of the first half of this year.

Finally, in the sixth element, ownership rights coverage ratio for deposits (equity/deposit), this index in Ebank exceeds the sector average, registering 12.60% by the end of June 2023, compared to the sector’s 8.62% by the end of the same period. For more info and news about EBnak