Emirates NBD achieves a Breakthrough in Financial efficiency Indicators during 2023
First Bank
Emirates NBD-Egypt, achieved a significant progress in its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators in 2023.
The financial statements of Emirates NBD-Egypt, ending on December 31 2023, revealed that the bank achieved a return on average equity (ROE) of 32.17% during 2023, compared to 14.28% in 2022.
The return on average assets (ROA) of the bank rose to reach 2.82% during the last year, compared to 1.29% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits surged with a growth rate of 174%, reaching EGP 3.235 bn during 2023, compared to EGP 1.81 bn in 2022, with an increase of EGP 2.054 bn.
In terms of earnings per share, the bank recorded a growth rate of 170% during the last year, with the bank's share of net profits reaching about EGP 59.05 per share in 2023, compared to EGP 21.88 At 2022.
It is worth mentioning that the bank achieved a growth of 36.4% in its Equity portfolio during the 2023, as it increased from EGP 8.51 bn at the end of December 2022 to EGP 11.60 bn at the end of December 2023, an increase of EGP 5.9bn.
The bank's asset portfolio also increased by 27% during the last year, reaching EGP 128.12 bn at the end of December 2023, compared to EGP 100.94 bn at the end of December 2022, an increase of EGP 27.18 bn.
