ABK-Egypt’s resource employment rate rose to 81.26% by the end of 2023
First Bank
ABK-Egypt's seperate financial statements showed that its resource employment rate rose to 81.26% by the end of 2023, compared to 74.85% 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 rise achieved by the Bank in 2023 is due to the pursuit of an expansive policy in the use of its resources to support its financial results within the Egyptian banking market.
The Bank was able to employ EGP 75.1 bn from its traditional resources, which amounted to EGP 92.5 bn by the end of 2023 in loan and financial investments, with EGP 28.2 bn for financial investments, and EGP 47 bn for total customer loans.
Al Ahli Bank of Kuwait - Egypt has employed EGP 54.2 bn of its traditional resources, which recorded EGP 72.4 bn by the end of 2022 in loan and financial investment, amounting to EGP 19.5 bn for financial investments, and EGP 34.7 bn for total customer loans.
Turning to the details of the distribution of the Bank's traditional resources at the end of 2023, we find that the value of the deposit portfolio recorded EGP 83.1 bn, while the total equity recorded EGP 9.4 bn by the end of the same period
In terms of the Bank's deposit employment rate for granting loans, it rose to 56.55% by the end of 2023, compared to 52.38% by the end of 2022
The deposit employment rate for financial investments also jumped to 33.90% by the end of 2023, compared to 29.50% by the end of 2022.
Although the Bank's resource employment rate rose in 2023, it remained the lowest 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.
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