Emirates NBD achieves good performance in its financial efficiency indicators during H1-2024
First Bank
Emirates NBD-Egypt, achieved a significant progress in its financial efficiency indicators during the first half of this year, The following analysis highlights bank's development in financial efficiency indicators in H 2024.
The separate financial statements of Emirates NBD-Egypt, ending on June 30 2024, revealed that the bank achieved an increase in return on average assets (ROA) of 1.90% during the first half of 2024, compared to 1.79% during the same period of 2023.
The return on average equity (ROE)of the bank reaching 19.98% during the first 6 months of the current year, compared to 20.99% during H1 2023.
The bank's net profits rose with a growth rate of 33%, reaching EGP 2.581bn during H1- 2024, compared to EGP 1.942bn during the same period in 2023, an increase of EGP 639.4mn.
In terms of earnings per share, the bank recorded a growth rate of 33% during the first 6 months of 2024, with the bank's share of net profits reaching about EGP 51.63per share during the 2023, compared to EGP 38.84 during H1- 2023.
It is worth mentioning that the bank achieved a growth of 12% in its asset portfolio an increase of EGP 15.14bn during the first half of the current year, as it increased from EGP 128.12bn at the end of December 2023 to EGP 143.26bn at the end of June 2024.
The bank's Equity portfolio also surged by 23% during the first half of the current year, reaching EGP 14.24 bn at the end of June 2024, compared to EGP 11.60 bn at the end of December 2023, an increase of EGP2.64bn.
