EBank achieves good performance in its Financial efficiency indicators during H1-2024
First Bank
EBank has achieved progress in its financial efficiency indicators during the first half of the current year, The following analysis highlights bank's development in financial efficiency indicators during H1-2024.
The separate financial statements of EBank, ending on June 30 2024, revealed that the bank achieved an increase in return on average equity (ROE) of 15.67% during the first quarter of 2024, compared to 11.85% during the same period of 2023.
The return on average assets (ROA) of the bank reaching 1.69% during the first 6 months of the current year, compared to 1.18% during H1 2023.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 93.03%, reaching EGP 2.317bn during H1- 2024, compared to EGP 1.200bn during the same period in 2023.
In terms of earnings per share, the bank recorded a growth rate of 43.81% during the first 6 months of 2024, with the bank's share of net profits reaching about EGP 2.79per share during H1- 2024, compared to EGP 1.94 during H1- 2023.
It is worth mentioning that the bank achieved a growth of 15.34% in its Equity portfolio during H1- 2024, as it increased from EGP 13.73bn at the end of December 2023 to EGP 15.83bn at the end of June 2024 an increase of EGP 2.11bn.
The bank's asset portfolio also surged by 35.32% during the first half of the current year, reaching EGP 158 bn at the end of June 2024, compared to EGP 116.76 bn at the end of December 2023, an increase of EGP 41.24bn.
