EBank grows by 46.2% on First Bank composite growth index during H1 - 2024

The independent financial statements of the Export Development Bank of Egypt, announced at the end of the financial period ended June 30, revealed that the Bank was able to achieve a composite growth rate of 46.16% from January to June 2024.

This rate was measured by a composite index developed by First Bank to measure banks' financial performance by one digit, across all branches of activity that include net profits, deposit portfolio, loan portfolio and asset portfolio, during H1 of this year.

The Bank was able to achieve positive results in its four sub-indicators constituting First Bank composite growth index, primarily net profits, which accounted for the largest proportion of the Bank's activity growth at 93.03% and an increase of about EGP 1.12 bn, recording EGP 2.32 bn in the first half of 2024, compared to 1.20 bn during the same period in 2023.

The bank's total customer deposit portfolio was the second contributor to this growth, having risen by 41.47% and an increase of about EGP 36.05 bn during the first half of this year, to EGP 122.98 bn by the end of June 2024, compared to 86.93 bn by the end of December 2023.

The size of the asset portfolio also contributed to this growth to reach third place with a growth rate of 35.32% and an increase of EGP 41.24 bn during the first half of this year, registering about EGP 158 bn by the end of June 2024, compared to 116.76 bn by the end of December 2023.

The Bank's total loan portfolio rose by 14.84% and an increase of EGP 8.10 bn during the first half of this year, registering EGP 62.72 bn by the end of June 2024, compared to 54.62 bn by the end of December 2023.