NBK-Egypt's resource employment rate fell to 86.94% by the end of March, 2024
NBK-Egypt's separate financial statements for the fiscal year ended March 31 showed that the Bank's resource employment rate fell to 86.94% by the first quarter of 2024, compared to 91.19% 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.
The slight decline in the Bank's resource employment rate during the first quarter of this year reflects the adoption of a conservative policy on the use of its resources during this period.
The bank was able to employ EGP 123.8 bn from its traditional resources, which recorded EGP 142.4 bn by the end of 2023 in both loans and financial investments, with EGP 37.6 bn for financial investments, and EGP 86.1 bn for total customer loans.
While employing EGP 110.2 bn of its traditional resources, which recorded EGP 120.8 bn by the end of 2023, in both loans and financial investments, with EGP 34.1 bn for financial investments and EGP 76.1 bn for total customer loans.
Regarding the distribution of the traditional resources of Al Ahli Bank of Kuwait - Egypt at the end of March 2024, the value of the deposit portfolio was EGP 126.7 bn, while equity was recorded on EGP 15.6 bn.
The Bank's deposit employment rate fell to 67.97% by the end of March 2024, compared to 71.80% by the end of 2023
Deposit employment rate for financial investments fell to 29.69% by the end of March 2024, compared to 32.21% by the end of 2023.
