EGBANK’s net profits grow by 65%, reaching EGP1.41bn during 2023
First Bank
According to the bank's unaudited financial statements ending on December 31th 2023. The bank's after-tax net profits increased by 65%, to record EGP 1.414 bn during 2023, compared to EGP 855.5 mn during 2022.
Additionally, the bank's pre-tax profits climbed by 48%, reaching EGP 2.396 bn in At 2023, up from EGP 1.617 bn during 2022.
Concerning the bank’s financial position, the bank’s deposit portfolio increased by 13%, amounting to EGP 81.142 bn by the end of December 2023 compared to EGP 71.723 by the end of December 2022.
Loans and facilities to customers portfolio also saw a growth of 19%, totaling EGP 31.894 bn by the end of December 2023 compared to EGP 26.898 by the end of December 2022.
Moreover, total equity of the bank increased by 39% during the last year, reaching EGP 7.39 bn by the end of December 2023, compared to EGP5.317 bn by the end of December 2022.
