Significant Financial performance, Hala Sadiq’s exceptional leadership of Ahli United Bank for 4 years

The Bank makes strong profits, its net profits jump to EGP 3.8 bn in first half 2024. Ahli United Bank’s loans exceed EGP 80 bn by the end of June, distress rate declined to a record level.

With exceptional banking experience exceeding more than three decades, and a long career history in the Middle East and North Africa region, Hala Sadiq, CEO of Ahli United - Egypt, led the bank to achieve strong growth indicators over the past period

This was revealed by a new monitoring conducted by First Bank to monitor the evolution of Ahli United Bank’s indicators since Halle Sadiq assumed executive leadership in 2020, and until the bank's most recent financial statements in June, climbing its assets portfolio to EGP 137.72 bn by the end of June 2024, compared to EGP 56.2 bn by the end of 2020, with a growth of 145.18%, and an increase of EGP 81.5 bn. 

Ahli United Bank's total loans rose by 155.56%, reaching EGP 80.5 bn by the end of the first half of this year, compared to EGP 31.5 bn by the end of 2020, with an increase above EGP 49 bn.

This was as a result of an increase in corporate loans, which jumped from EGP 28.67 bn by the end of 2020, to EGP 76.3 bn by the end of June 2024, with a growth of 166.20% and an increase of EGP 47.7 bn.

In terms of Ahli United Bank's retail loans, it rose to EGP 4.2 bn by the end of June 2024, compared to EGP 2.8 bn by the end of 2020, with a growth of 47.90% and an increase of EGP 1.4 bn.

The Bank's customer deposit portfolio jumped from EGP 46.6 bn by the end of 2020, to EGP 110.3 bn by the end of June 2024, with a growth of 136.32% and an increase of EGP 63.6 bn.

This rise is attributable to the growth of the Bank's corporate deposits by EGP 50 bn during the period under analysis, recording EGP 87.7 bn by the end of June 2024, compared to EGP 37.6 bn by the end of 2020.

The Bank's retail loans rose by 47.90%, with an increase of EGP 1.4 bn during the period under analysis, reaching EGP 4.2 bn by the end of the second quarter of 2024, compared to EGP 2.8 bn by the end of 2020. Despite the expansion of loans, the Bank has managed to reduce the distress rate to 2.86% of total Bank loans by the end of 2024, compared to 3.80% by the end of 2020, reflecting a significant improvement in the quality of the loan portfolio and risk management, and enhancing the efficiency of the Bank's financial performance.

Since Hala Sadiq assumed the leadership of the Bank, Ahli United Bank's capital has jumped by 133.3% in 3 years, reaching EGP 7 bn by the end of June 2024, after being EGP 3 bn by the end of 2020, with an increase of EGP 4 bn.

In terms of profitability indicators, the Bank's net profits rose to EGP 3.3 bn in 2023, compared to EGP 1.2 bn in 2020, with growth of 179.2% and an increase of EGP 2.1 bn.

In terms of net profits during the year, the Bank jumped by 72.9%, registering EGP 3.8 bn in the first half of 2024, compared to EGP 2.2 bn in the same period from 2023, with an increase of EGP 1.6 bn.

The Bank also managed to bring about remarkable growth in return on average assets, rising to 3.33% in 2023, compared to 2.30% in 2020, and 3.01% in the first half of 2024.

It also achieved remarkable growth in the rate of return on average equity, jumping to 27.88% in 2023, compared to 15.08% in 2020, while registering 25.49% in the first half of 2024.

It should be noted that Ahli United Bank - Egypt announced last May On transferring all its banking operations to conform to the principles of Islamic sharia, It is worth mentioning that this shift follows the approval of the General Assembly of Kuwait Finance House to integrate Ahli United with the parent group Ahli United Bank has an additional competitive advantage, especially given Kuwait Finance House's leading position in Islamic banking.