Ahli United Bank - Egypt resource employment rate declines to 83.48% by March 2024-End

The separate financial statements of Ahli United Bank - Egypt revealed that the Bank's resource employment rate fell to 83.48% by the end of March 2024, compared to 85.90% by the end of 2023.

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. This decline in the rate of resource employment in Ahli United Bank - Egypt is due to a provisional policy towards the employment of its resources during Q1 of this year.

Turning to the Bank's figures, we find that it employs EGP 97.4 bn from its traditional resources, which recorded EGP 116.7 bn by the end of March 2024 in loans and financial investments, with EGP 21.3 bn for financial investments, and 76.2 bn for total loans.

While employing EGP 88.7 bn from its traditional resources, which recorded EGP 103.3 bn by the end of 2023 in loans and financial investment, with EGP 21.6 bn for financial investments, and 67.2 bn for total loans.

The bank's traditional resources were distributed by the end of Q1 of 2024, between EGP 101.4 bn for the value of the deposit portfolio, while equity received 15.3 bn by the end of the same period.

The Bank's Deposit employment rate for granting loans increased to 75.13% by the end of March 2024, compared to 74.56% by the end of 2023.

While the deposit employment rate for financial investments fell to 20.97% by the end of March from 23.95% by the end of 2023.

The decline in the Bank's employment index during Q1 of this year increased its distance from the Egyptian banking sector’s average, where the employment index of the banking sector recorded about 96.57% by the end of 2023, according to the latest monthly statistical bulletin issued by the Central Bank of Egypt.

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