Ahli United Bank achieves a boom in financial efficiency indicators At 9M-2023
First Bank
Ahli United Bank -Egypt managed to achieve exceptional performance in its financial efficiency indicators during the first 9 months of last year.
The following analysis reviews the bank's progress in financial efficiency indicators from January to September 2023.
The separate financial statements of Ahli United Bank -Egypt, ending on September 30, 2023, revealed that the bank achieved a return on average equity (ROE) of 23.77% during the first 9M- 2023, compared to 14.70% during the same period in 2022.
In addition, return on average assets (ROA) of the bank was 2.86% during the first 9 months of 2023, compared to 1.93% during the first 9 months of 2022.
The main reason for the increase in ROE and ROA is the bank's net profits achieved a growth of 99%, recording EGP 2.77bn during the first 9M- 2023, compared to EGP 1.39 Bn during the same period in 2022.
In terms of earnings per share, the bank recorded a growth rate of 99.5% during the period from January to September 2023, with the bank's share of net profits reaching about EGP 3.95 per share during the first 9 months of 2023, compared to EGP 1.98 during the same period in 2022.
It is worth mentioning that the bank achieved a growth of 21.1% in its Equity portfolio during the first 9M-2023, it increased from EGP 10.5 bn at the end of December 2022 to EGP 12.7 bn at the end of September 2023.
The bank's asset portfolio also increased by 26% during the first 9M -2023, reaching EGP 107.7 bn at the end of September 2023, compared to EGP 85.5 bn at the end of December 2022.
