Alex Bank’s Loans to Deposit ratio declined to 49.85% by Sep- 2023 End
First Bank
The financial statements of Alex Bank, which ended on September 30 of the last year, revealed an decrease in the loans to deposits ratio in Alex to record 49.85% by the end of September 2023, compared to 53.85% by the end of December 2022.
Despite that, the bank experienced development in its key indicators, with the deposit portfolio growing at a rate of 11.5%, with an increase of EGP 12.7 bn in the first 9 months of the last year, recording EGP 123.4 bn by the end of September 2023, compared to EGP 110.7 bn by the end of December 2022.
The bank increased credit issuance to its clients by approximately EGP 1.9 bn during the first 9 months of the last year, total loan and facilitation for customers achieving a growth rate of 3.22%, reaching EGP 61.5 bn by the end of September 2023, compared to EGP 59.6 bn by the end of December 2022.
On the financial position front, the bank achieved a growth rate of 14.11%, with an increase of EGP 18.8 bn in the first 9M-2023, recording total assets of EGP 151.8 bn by the end of September 2023, compared to EGP 133.1 bn by the end of December 2022.
