EBank achieves significant rise on First Bank Index of Depositors' confidence in Listed Banks

A survey conducted by First Bank on the First Bank index of depositors’ confidence in listed banks over the past year revealed a strong rise of EBank, where the bank successfully advanced 4 positions in 2023.

In 2023, the bank won fifth position instead of ninth position on the same index but for 2022, as a result of being able to increase its customer deposit portfolio by EGP 14.1 bn over the past year, to register EGP 86.9 bn by the end of December 2023, compared to 72.9 bn by the end of December 2022.

This gives a positive indicator of the Bank's performance over the past year, which certainly will be reflect on the size of its assets positively in the future, as deposits are the main component of the Bank's resources that it is going to employ, and the increase in them is the first step to boost the Bank's assets.

EBank recorded a strong performance over the past year, with net profits jumping by 154%, to EGP 3.1 bn in 2023, compared to EGP 1.3 bn in 2022, with an increase of EGP 1.9 bn.

The Bank's pre-tax profits rose by 126% to EGP 4.4 bn in 2023, compared to EGP 2 bn in 2022, with an increase of EGP 2.5 bn.

The bank increased customer loans by EGP 9.8 bn, after its total customer loans and facilities portfolio increased by 22% over the past year, registering EGP 54.6 bn by the end of December 2023, compared to 44.8 bn by the end of December 2022.

The Bank's asset portfolio rose by 21% with an increase of EGP 20 bn over the past year, registering EGP 116.8 bn by the end of December 2023, compared to 96.8 bn by the end of December 2022.