EGBANK growth slow-down to 15.1% during Q4-2023
Mai El-Kafoury
EGBANK's growth slow-down during Q4- 2023, recording a compound growth rate of 15.11%, compared to 20.33% during Q3-2023.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q4-2023.
EGBANK was able to achieve positive results in 3 sub-indicators (net profits, loan portfolio, and asset portfolio) led by net profit which formulated First Bank composite growth index, recorded a growth rate of 59.09% during Q4-2023.
Total customer loans and assets contributed to this growth, with a growth rates of 1.26%, 0.20% respectively during the Q4 of the last year, while total deposits decreased by 0.10% during the same period 2023
As for the Q2 -2023, EGBANK was able to achieve positive results in 3 sub-indicators net profits were also the most impactful factor in the growth of the composite First Bank index, as the bank achieved a growth rate of 80.9% in its net profits during the period from July to September 2023.
Total customer deposits and Total loans rose with a growth rates of 3.38%, 3.57% respectively during the Q3 of the last year, while total assets declined by 6.52% during the same period.
It should be noted that all figures and growth rates mentioned above, are according to financial statements published on the bank’s official website.
Indicators of EGBANK
| # | Indicators | Value At Q4 2023 | Growth rates | Value At Q3 2023 | Growth rates |
|---|---|---|---|---|---|
| 1 | Net profits | 376.34 Million pounds | 59 % | 389.213 Million pounds | 80.9 % |
| 2 | Assets | 97.52 Billion pounds | 0.2 % | 97.322 Billion pounds | -6.52 % |
| 3 | Deposits | 81.142 Billion pounds | -0.1 % | 81.225 Billion pounds | 3.38 % |
| 4 | Total loans | 33.713 Billion pounds | 1.26 % | 33.294 Billion pounds | 3.57 % |
| 5 | composite growth index % | 15.11 % | 20.33 % |
