EBank tops listed banks in focusing on customer loans by the end of March 2024
First Bank
EBank leads the First Bank list of top listed banks in focusing on customer loans by the end of March, continuing its strong performance in the Egyptian banking sector under the leadership of Dr. Ahmed Galal, Chairman of the Bank.
EBank's net customer loans received 43.39% of the bank's total assets by the end of the first quarter of 2024.
The bank's asset volume rose by 20.3% and an increase of EGP 23.7 bn during the first quarter of this year, reaching EGP 140.5 bn by the end of March 2024, compared to EGP 116.8 bn by the end of December 2023.
Net customer loans rose to EGP 61 bn by the end of March 2024, compared to EGP 52.4 bn by the end of 2023, with a growth of 16.44% and an increase of EGP 8.6 bn.
Overall, EBank has been performing well since early this year, with net profits jumping by 106% to exceed EGP 1 bn in the first quarter of 2024, compared to EGP 501.8 mn in the first quarter of 2023, with an increase of EGP 529.4 mn.
The Bank's pre-tax profit rose by 83.1% to EGP 1.45 bn in the first quarter of 2024, compared to EGP 798.3 mn in the first quarter of 2023, with an increase of EGP 659.8 mn.
EBank has increased its total customer deposits portfolio by EGP 21 bn, with a growth rate of 24.1% during the first quarter of this year, to EGP 107.9 bn by the end of March 2024, compared to EGP 86.9 bn by the end of 2023.
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