Ahli United Bank’s net profits grow by 78%, recording EGP 2.80 bn during Q1-2024

The separate financial statements of AHLI United Bank – Egypt, recently announced on the bank’s official website, reveal a 77.6% growth in its net profits, reaching EGP 2.796 bn during Q1-2024, compared to EGP 1.575 bn during the same period in Q1-2023, with an increase of EGP 1.221 bn.

The bank’s pre-tax income jumped by 64%, with an increase of EGP 1.168 bn, reaching EGP 2.995 bn during Q1-2024, compared to EGP 1.827  bn during the same period in 2023.

Total portfolio of the bank’s assets increased by 12.4%, with an increase of EGP 14  bn during Q1-2024, reaching EGP 127.2 bn by the end of March 2023, compared to EGP 113.2 bn by the end of December 2023.

The bank’s deposit portfolio amounted to approximately EGP 12.6 bn, with an increase of EGP 11.3 bn during the last year, reaching EGP 101.4 bn by the end of March 2024, compared to EGP 90.1 bn by the end of December 2023.

Total portfolio of customer loans and facilities increased by 13.4%, with an increase of approximately EGP 9.02 bn during Q1-2024, reaching EGP 76.2 bn by the end of March 2024, compared to EGP 67.2 bn by the end of December 2023.