ABK-Egypt achieves strong performance in its financial Efficiency indicators during 2023
First Bank
Al Ahli Bank of Kuwait-Egypt managed to achieve exceptional performance in its financial efficiency indicators during the last year, The following analysis reviews the bank's progress in financial efficiency indicators during 2023.
The separate financial statements of Ahli Kuwaiti-Egyptian Bank, ending on December 31, 2023, revealed that the bank achieved a return on average equity (ROE) of 35.91% during 2023, compared to 30.55% during 2022.
The return on average assets of the bank was 3.24% during 2023, compared to 2.54% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits to record EGP 2.80 bn during 2023, compared to EGP 1.68 Bn during 2022, with a growth rate of 66.8%.
In terms of earnings per share, the bank recorded a growth rate of 66.56% during the period from January to December 2023, the bank's share of net profits reaching EGP 10.41 per share during 2023, compared to EGP 6.25 during the same period in 2022.
It is worth mentioning that the bank achieved a growth of 51.15% in its Equity portfolio during 2023, as it increased from EGP 6.21 bn at the end of December 2022 to EGP 9.39 bn at the end of December 2023.
The bank's asset portfolio also increased by 29.61% during the last year, reaching EGP 97.61 bn at the end of December 2023, compared to EGP75.31 bn at the end of December 2022. For more info and news about ABK-Egypt, click on "Read More."
