saib follows an expansion policy, increasing its resource employment rate to 82.31%

The separate financial statements of saib revealed the bank's success in raising its resource employment rate over the past year, reaching 82.31% by the end of 2023, compared to 78.97% by the end of 2022.

This indicator, launched by the Research Centre of First Bank, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.

The Bank's increase in the index in 2023 reflects an expansion policy of employing its traditional resources, and financial investments have played a significant role in increasing the Bank's employment rate due to their rapid growth over the past year.

Turning to the figures, saib employs EGP 80.4 bn from its traditional resources, which reached EGP 97.7 bn by the end of 2023 in both loans and financial investments, with EGP 34.2 bn for financial investments, and EGP 46.3 bn for total customer loans.

While the Bank employs EGP 64.4 bn of its traditional resources, which recorded EGP 81.5 bn by the end of 2022 in loan and financial investments, with EGP 22.5 bn for financial investments, and EGP 41.9 bn for total customer loans.

In terms of distributing the traditional resources of saib, the value of customer deposit portfolio was EGP 85.3 bn, while total equity recorded EGP 12.4 bn by the end of 2023. 

The Bank's deposit employment rate for granting loans was 54.22% by the end of 2023, compared to 57.35% by the end of 2022

While the deposit employment rate for financial investments increased to 40.02% by the end of 2023, compared to 30.79% by the end of 2022.

Although the Bank's resource employment rate rose in 2023, it remained below the average of the Egyptian banking sector, with the banking sector employment index registering about 96.57% by the end of 2023, according to the latest data of the Central Bank of Egypt.