EBank grows 53.38% on First Bank’s composite growth index during 9M-22

The Export Development Bank of Egypt, EBank, recorded a composite growth rate of 53.38% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio during the first 9 months of 2022.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during 9M-22.

EBank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by total assets that recorded a growth rate of 168.8%

The Bank’s net profit recorded EGP 943.7m during the first 9 months of 2022, compared to EGP 351m during the same period of 2021.

In addition, the bank's loans and facilities to customers  jumped by 20.5% to record EGP 36.3 billion at 9M-22, compared to EGP 7.46 billion at the end of 2021 with an increase of EGP 3.29 billion.

The assets portfolio jumped by 14.25 to stand at 87.04 billion pounds by 9M-22, compared to EGP76.18billion by the end of 2021 with an increase of EGP10.86 billion.

However, the deposit portfolio seen a growth of 9.91% standing at EGP70.76 billion at 9M-22, compared to EGP 64.3 billion at the end of 2021 with an increase of 6.3 billion pounds.