Banque Misr’s financial efficiency indicators evolution At 9M-2023
Fatma Attia
Banque Misr achieved a significant progress in its financial efficiency indicators during the first 9M of last year, The following analysis highlights bank's development in financial efficiency indicators from January to September 2023.
The separate financial statements of Banque Misr, which ended on September 30, 2023, revealed that the bank achieved a return on average equity (ROE) of 24.13% during the first 9M- 2023, compared to 13.48% during the same period in 2022.
The return on average assets of the bank was 1.66% during the first 9 months of 2023, compared to 1% during the first 9 months of 2022.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 122%, reaching EGP 39.240 bn during the first 9M- 2023, compared to EGP 17.701 bn during the same period in 2022, an increase of EGP 21.54bn.
In terms of earnings per share, the bank recorded a growth rate of 121.5% during the period from January to September 2023, with the bank's share of net profits reaching about EGP 3.92per share during the first 9 months of 2023, compared to EGP 1.77 during the same period in 2022.
The bank's asset portfolio rose by 12.6% during the first 9M of the last year, reaching EGP 2.50 tn at the end of September 2023, compared to EGP 2.22 tn at the end of December 2022, an increase of EGP 278.7bn.
In addition, the bank achieved a growth of 22% in its Equity portfolio during the first 9M-2023, as it increased from EGP 146.7 bn at the end of December 2022 to EGP 178.6 bn at the end of September 2023.
