Ahmed Galal, Transformation Leader in EBank Experience

Ahmed Galal, Chairman of the Board of Directors of Export Development Bank of Egypt "EBank" succeeded in achieving exceptional financial and operational results in a short period of time. Thanks to his ambitious vision, he was able to enhance the Bank's position in the market and make qualitative leaps in improving the customer experience and facilitating their day-to-day transactions efficiently and effectively, reflecting the strength of his strategy that put the bank in a leading position in a position.

This was revealed by a new monitoring conducted by First Bank to monitor the development of the most important indicators of EBank since Ahmed Galal assumed executive leadership in December 2022, and until the Bank's most recent financial data available last June.

Ahmed Galal managed to strengthen the financial position of EBank, jumping the Bank's asset portfolio by 63.3%, reaching EGP 158 bn by the end of June 2024, compared to EGP 96.7 bn by the end of 2022, representing an increase of EGP 61.3 bn.

Galal was also able to significantly boost depositors' confidence, as evidenced by the Bank's portfolio of deposits of more than EGP 50 bn, and a growth rate of 68.81%, to register EGP 123 bn by the first half of this year, compared to EGP 72.9 bn by the end of 2022.

This increase is due to the rise in corporate deposits to EGP 105.4 bn by the end of June 2024, compared to EGP 59.7 bn by the end of 2022, with a growth rate of 76.6% and an increase of EGP 45.7 bn.

Retail deposits rose by 33.4% to EGP 17.6 bn by the end of June 2024, compared to EGP 13.2 bn by the end of 2022, with an increase of EGP 4.4 bn.

In addition, Ahmed Galal managed to achieve outstanding results in the size of the Bank's loan portfolio, which is reflected in the rise in total EBank loans to EGP 62.7 bn by the end of June 2024, compared to EGP 44.8 bn by the end of 2022, with a growth rate of 40%, and an increase in contact with EGP 18 bn.

This was as a result of an increase in corporate loans, which rose from EGP 40.3 bn by the end of 2022, to EGP 53.2 bn by the end of the second quarter of 2024, with a growth of 32%, and an increase of nearly EGP 13 bn.

It also managed to raise EBank's retail loans by 110.1%, to EGP 9.5 bn by the end of June 2024, compared to EGP 4.5 bn by the end of 2022, with an increase of EGP 5 bn.

He was also able to maintain the Bank's ability to control credit risks resulting from both the loan and facilities portfolio as the ratio of non-performing loans to total loans fell to 2.39% by the end of June 2024, compared to 3.59% by the end of December 2022.

While the ratio of loans and facilities increased to 96.22% by the end of June 2024, compared to 95.32% by the end of December 2022.

In terms of profitability, Ahmed Galal managed to jump the bank's net profits by 154%, registering EGP 3.1 bn in 2023, compared to EGP 1.3 bn in 2022, an increase of EGP 1.9 bn.

As for the bank's net profit this year, it jumped by 93%, reaching EGP 2.3 bn in the first half of 2024, compared to EGP 1.2 bn in the same period from 2023, with an increase of EGP 1.1 bn.