Ahli United Bank grows by 37.98% on FirstBank composite growth index During 2023

The separate financial statements of Ahli United Bank, which ended on December 31st of last year, revealed that the bank achieved a composite growth rate of 37.98% 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.

Ahli United Bank 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 64.97%, reaching EGP 3.3bn during 2023, compared to EGP 2 bn during 2022, with an increase of EGP 1.3 bn.

The bank's asset portfolio was the second contributor to the growth, rising by 32.42% and an increase of approximately EGP 27.7 bn during 2023, reaching EGP 113.2 bn by the end of December 2023, compared to EGP 85.5 bn by the end of December 2022.

Total customer deposits was the third contributor to this growth, increasing by 29.03% during the last year, reaching EGP 90.1 bn by the end of December 2023, compared to EGP 69.8 bn by the end of December 2022, an increase of EGP 20.3 bn.

In addition, customer loans surged by25.53% during the last year, reaching EGP 67.15 bn by the end of December 2023, compared to EGP 53.495 bn by the end of December 2022, with an increase of EGP 13.7 bn.