EBank achieves strong performance in its financial Efficiency indicators At 9M-2023

EBank improved its financial efficiency indicators during the first 9 months of 2023, This improvement was attributed to the efforts of Ahmed Galal, the bank's chairman.

The following analysis reviews the bank's progress in financial efficiency indicators from January to September 2023.

The separate financial statements of EBank, ending on September 30, 2023, revealed that the bank achieved a return on average equity (ROE) of 20.24% during the first 9M- 2023, compared to 11.87% during the same period in 2022.

In addition, return on average assets (ROA) of the bank rose to 2.08% during the first 9 months of 2023, compared to 1.16% during the first 9 months of 2022.

The main reason for the increase in ROE and ROA is the bank's net profits recorded EGP 2.16 bn during the first 9M- 2023, compared to EGP 943.7 mn during the same period in 2022, with a growth rate of 128.5%.

In terms of earnings per share, the bank recorded a growth rate of 45% during the period from January to September 2023, with the bank's share of net profits reaching about EGP 3.45 per share during the first 9 months of 2023, compared to EGP 2.38 during the same period in 2022.

It is worth mentioning that the bank achieved a growth of 20% in its Equity portfolio during the first 9M-2023, as it increased from EGP 9.7 bn at the end of December 2022 to reach EGP 11.6 bn at the end of September 2023.

The bank's asset portfolio also increased by 14% during the first 9M of the current year, reaching EGP 110.2 bn at the end of September 2023, compared to EGP96.8 bn at the end of December 2022, an increase of EGP 13.4 bn.

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