Attijariwafa’s resource employment rate rises to 78.65% by the end of June 2024

The separate financial statements of Attijariwafa bank - Egypt for the financial period ended June 30 showed that the Bank's resource employment rate rose to 78.65% by the end of June 2024, compared to 77.38% by the end of 2023.

This indicator, launched by the Research Centre of First Bank, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.

The slight rise in the Bank's resource employment rate during the first half of 2024 reflects a relatively expansive policy towards resource employment during this period, which has strengthened the Bank's move away from the resource employment rate average for banks operating in the sector of more than 97%.  

The bank was able to employ EGP 77.9 bn from its traditional resources, which recorded EGP 99.1 bn by the end of June 2024 in both loans and financial investments, with EGP 25.4 bn for financial investments, and EGP 52.5 bn for total customer loans.

While employing EGP 65.6 bn from its traditional resources, which recorded EGP 84.8 bn by the end of 2023 in both loans and financial investments, with EGP 21.6 bn for financial investments, and EGP 44 bn for total customer loans.

In terms of the distribution of traditional resources at the Bank at the end of June 2024, the value of the deposit portfolio was EGP 88.9 bn, while equity was recorded at EGP 10.1 bn.

The Bank's deposit employment rate increased during the first half of this year, rising to 59.07% by the end of June 2024, compared to 57.63% by the end of 2023.

Deposit employment for financial investments rose slightly to 28.55% by the end of June 2024, compared to 28.30% by the end of 2023. For more information about Attijariwafa bank and its achievements, click more