EBank sees a strong performance by scoring 54.67 points on First Bank financial soundness index

Export Development Bank of Egypt achieved a strong performance on its financial soundness index over the past year by scoring 54.67 points on First Bank financial soundness index by the end of September 2023, compared to the sector average of 50 points on this index by the end of the same period.

The financial soundness index set by First Bank, measures the strength and soundness of the banks' financial position and ability to preserve the funds of depositors and shareholders.

The financial soundness index is based on six measures: the capital adequacy ratio, the financial leverage ratio, assets to deposits ratio, shareholders’ Equity to deposits ratio, loans to deposits ratio and non-performing loan ratio.

Turning to the index's first element, the capital adequacy ratio, this index registered 15.50% by the end of Q3 of 2023, exceeding the regulatory limits set by the Central Bank of Egypt which are consistent with Basel Accord of 12.5%.

The second element of the financial soundness Index, the leverage ratio, EBank exceeds the banking sector average. The Bank's leverage ratio was 8.21% by the end of Q3 of 2023, compared to 6.6% at the banking sector level at the end of the same period.

In terms of the third element, the non-performing loan ratio, it stood at 2.30% by the end of September 2023, compared to 3.3% at the banking sector level at the end of the same period, to be one of the most efficient banks in terms of non-performing loans rate.

As for loans to deposits ratio (loans/deposits), EBank achieved about 62.76% by the end of Q3 of 2023, ranking third on the FirstBank list of the best banks included in the loans to deposits ratio by the end of last September, compared to the sector average of 52.40% by the end of the same period.

Regarding the fifth element, Asset coverage ratio for deposits (assets/deposits), the Bank registered 127.88% by the end of September 2023, compared to 150.96% at the banking sector level by the end of the same period, taking second position on the First Bank list of the best banks included in the asset coverage ratio for deposits by the end of the Q3 of last year.

Finally, in the sixth element, Shareholders’ Equity coverage ratio for deposits (equity/deposit), this index exceeds the sector average, registering 13.48% by the end of September 2023, compared to 8.86% at the banking sector level by the end of the same period.