Ahli United Bank growth slow-down to 1.6% during Q4-2023
First Bank
Ahli United Bank-Egypt's growth slow-down during the Fourth quarter of 2023, recording a compound growth rate of 1.59%, compared to 5.41% 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.
The bank was able to achieve positive results in 3 sub-indicators (deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by deposit portfolio, which recorded a growth rate of 7.08% during Q4-2023.
It also achieved a growth in total loans and facilities to customers at a rate of 5.52% during Q4-2023, and an increase in asset portfolio by 5.07% at the same period, The bank’s net profits declined by 11.31% during Q4-2023.
At the level of Q3-2023, The bank was able to achieve positive results in all 3 sub-indicators, led by net profit, recorded a growth rate of 17.67% From July to September.
Total loans as well as assets increased by 3.87% and 0.40%, respectively, at the same period. While Total deposit portfolio decreased by 0.28% during Q3-2023
It should be noted that all figures and growth rates mentioned above, are according to financial statements published on the bank’s official website.
