Alex Bank's Main Indicators performance during 8 years

A monitoring conducted by First Bank on Alex Bank’s Main Indicators variation revealed that the Bank achieved net profit growth of about 104.93%, reaching EGP 2.85 bn in 2022, compared to EGP 1.39 bn in 2015, with an increase of EGP 1.46 bn, compared to a growth of the banking sector as a whole that exceeded three times during this period.

As for the bank's net profits over the past year, it achieved significant net profits growth levels of 93.56%, registering EGP 4 bn in the first 9M of 2023, compared with EGP 2.07 bn in the same period of 2022, with an increase of EGP 1.94 bn.

Despite a notable rise in the bank's net profit, Alex Bank's market share in the financing market has declined over the past years, registering 1.2% by Q3 of 2023, compared to 3.4% by the end of 2015.

This is a natural consequence of the slower growth of the Bank's loans compared to the average of the banking sector growth, and banks in its same category, rising by about 127.63%, registering EGP 61.5 bn by the end of Q3 of last year, compared to EGP 27 bn by the end of 2015, with an increase of just EGP 34.5 bn.

The growth of the Bank's Retail financing slowed, but raised From December 2015 to the end of September 2023, registering EGP 27.9 bn by the end of Q3 of last year, compared to EGP 13.9 bn by the end of 2015, with growth of 100%.

In terms of corporate financing, Alex Bank also showed a slight rise compared to the sector average, with growth of about 156.7% during the period under analysis, reaching EGP 33.67 bn by the end of last September, compared to 13.115 by the end of 2015, with an increase of EGP 20.6 bn.

With regard to the Bank's financial position, Alex Bank's share in the asset market dropped by 1.03% of the total banking sector's assets by the end of September 2023, compared to 1.91% by the end of 2015.

This happens despite a notable rise in the size of the Bank's asset portfolio by 219.52% during the period under analysis, recording EGP 151.8 bn by the end of September 2023, compared to EGP 47.5 bn by the end of 2015.

The Bank's market share in the deposits market declined, but at a lower pace than in loans and assets markets, with a market share of 1.26% of the total banking sector’s deposits by the end of September 2023, compared to 1.96% by the end of 2015.

This is a natural consequence of the growth in the Bank's deposits portfolio, rising by 228.55% during the period under analysis, to EGP 123.42 bn by the end of September 2023, compared to EGP 37.6 bn by the end of 2015.

The corporate deposit portfolio jumped by 512.32% during the period under analysis, reaching EGP 35.5 bn by the end of Q3 of 2023, compared with EGP 5.8 bn by the end of 2015, with an increase of EGP 29.7 bn.

The Bank's Retail deposits portfolio rose from 31.76 by the end of 2015, to EGP 87.9 bn by the end of September 2023, with a growth of 176.70% and an increase of EGP 56.1 bn.

Finally, cautious policies of Alex Bank during the period under analysis have led to limited growth in its portfolios, demonstrating that the Bank needs to change its policies to regain its position and reduce the notable decline in market shares.