EBank grows by 54% on FirstBank composite growth index During 2023

The separate financial statements of EBank, which ended on December 31st of last year, revealed that the bank achieved a composite growth rate of 53.94% during 2023.

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, during 2023.

EBank managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 153.89%, reaching EGP 3.120 bn during 2023, compared to EGP 1.229 bn during 2022, with an increase of EGP 1.891 bn.

Total customer loans was the second contributor to this growth, increasing by 21.87% during the last year, reaching EGP 54.6 bn by the end of December 2023, compared to EGP 44.8 bn by the end of December 2022, an increase of EGP 9.80 bn.

The bank's asset portfolio was the third contributor to the growth, rising by 20.67% and an increase of approximately EGP 20 bn during 2023, reaching EGP 116.8bn by the end of December 2023, compared to EGP 96.8 bn by the end of December 2022.

In addition, customer deposit portfolio surged by 19.32% during the last year, reaching EGP 86.9 bn by the end of December 2023, compared to EGP 72.8 bn by the end of December 2022, with an increase of EGP 14.1 bn.