EGBANK assets portfolio rises 42.60% last 5 years and 2023 is the highest growth

EGBANK’s assets portfolio has witnessed average growth over the past 5 years, rising by about 42.60%, to record EGP 97.5 bn by the end of 2023, compared to EGP 68.4 bn by the end of 2019, with an increase of EGP 29.1 bn.

Through monitoring the growth of the Bank's assets during the period under analysis, the highest annual growth rate, and the highest growth value of the portfolio, was recorded over the past year, with the portfolio rising by 12.4%, reaching EGP 97.5 bn by the end of December 2023, compared to EGP 86.7 bn by the end of 2022, with an increase of EGP 10.8 bn.

While the lowest annual growth rate in the portfolio was during 2020, the portfolio rose by only 5.3%, to EGP 72 bn by the end of the year, compared to EGP 68.9 bn by the end of 2019, with an increase of EGP 3.6 bn.

During the period under analysis, the Egyptian Gulf Bank maintained its investment policy, where financial investments remained the first destination for the employment of its depositors' funds, while loans ranked second, as evidenced by their relative weight.

This is despite the decline in the relative weight of financial investments of the Bank’s total assets to 41.46% by the end of 2023, compared to 46.61% by the end of 2019.

Loans Investment also declined to 32.71% of the total assets of the Egyptian Gulf Bank by the end of 2023, compared to 34.10% by the end of 2019.

The cash and balances of the Central Bank of Egypt accounted for the third largest component of the Bank's assets portfolio, their relative weight reached 11.59% of total Egyptian Gulf assets by the end of 2023, compared to 5.92% by the end of 2019, after ranking fourth regarding investment directions.

Balances inside Banks represented the fourth largest component of the Bank's assets portfolio, with a relative weight of 9.19% of total EGBank assets by the end of 2023, compared to 7.65% by the end of 2019, and the remained percentage was concentrated in other various assets.

The Bank's market shares over the past 5 years have seen collective declines, with its share in assets falling to 0.66% of total banking sector assets by the end of September 2023, compared to 1.17% by the end of 2019.

Its share in the deposit market fell to 1.92% of total banking sector deposits by the end of September 2023, compared to 0.83% by the end of 2019.

Egyptian Gulf Bank's share in the loans market fell to 0.65% by the end of Q3 of 2023, compared to 1.29% by the end of 2019.

Its share in the financial investment market also fell to 0.82% of total financial investments in the banking sector by the end of Q3 of 2023, compared to 1.54% by the end of 2019.