EBank Tops fastest-growing banks in credit cards in Egypt

Export Development Bank of Egypt portfolio witnessed strong growth during this year, with its portfolio jumping by 91% and an increase of EGP 59.5 mn during the first 9M of last year, rising to EGP 124.8 mn by the end of September 2023, compared to EGP65.3 mn by the end of December 2022.

Thanks to this strong growth, EBank topped First Bank list of the fastest growing banks in credit cards in the first 9M of 2023.

EBank has been performing strongly since early last year, rising its net profits by 128.4% in the first 9M of 2023, reaching EGP 2.2 bn from January to September 2023, compared to EGP 944 mn during the same period from 2022, with an increase of EGP 1.2 bn.

Net fees and commissions income rose by 219.5%, registering EGP 1.1 bn in the first 9M of 2023, compared to EGP 335.4 mn in the same period of 2022, with an increase of EGP 736.2 mn.

Net interest income jumped to EGP 3.8 bn during the first 9M of 2023, compared to EGP 2.1 bn during the same period of 2023, with a growth of 82.4% and an increase of EGP 1.7 bn.

The bank's total assets also increased by 13.89% and with an increase of EGP 13.4 bn during the first 9M of last year, registering EGP 110.2 bn by the end of September 2023, compared to 96.8 bn by the end of December 2022.

Its customer deposits portfolio jumped by 18.3% and with an increase of EGP 13.3 bn during the first 9M of 2023, reaching EGP 86.2 bn by the end of September 2023, compared to EGP 72.9 bn by the end of 2022.

The Bank’s corporate deposits portfolio rose by 18.7% during the first 9M of last year, registering EGP 70.8 bn by the end of September 2023, compared to 59.7 bn by the end of December 2022.

The retail deposits portfolio increased by 16.43% over the first 9M of last year, moving from EGP 13.2 bn by the end of December 2022, to 15.4 bn by the end of September 2023.

Total customer loans rose by 21% in the first 9M of last year, registering EGP 54.1 bn by the end of September 2023, compared to 44.8 bn by the end of December 2022, with an increase of EGP 9.3 bn.

Its corporate loans portfolio jumped to EGP 47.2 bn by the end of September 2023, compared to EGP 40.3 bn by the end of December 2022, to grow by 17.25%, with an increase of EGP 6.9 bn.

The Bank's retail loan portfolio size increased by 51.1% and with an increased by EGP 2.3 bn during the first 9M of last year, reaching EGP 6.9 bn by the end of September 2023, compared to 4.5 bn by the end of December 2022.

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