EBank tops banks in focusing on corporate deposits by the end of June 2024

Export Development Bank of Egypt held the First Bank list of higher banks focusing on corporate deposits by the end of June 2024, where corporate deposits accounted for about 85.69% of the bank's total deposits in the first half of this year

The Bank's corporate deposit portfolio jumped by 47.41% during the first 6 months of this year, reaching EGP 105.4 bn by the end of June 2024, compared to EGP 71.5 bn by the end of 2023, representing an increase of EGP 33.9 bn.

The Bank's total customer deposits rose by more than EGP 36 bn in the first half of 2024, registering EGP 123 bn by the end of June, compared to EGP 86.9 bn by the end of 2023, with a growth of 41.47% on a semi-annual basis

Financial performance in various aspects of the Bank during this year indicates a strong trend towards inclusive growth, with the Bank registering significant rises in many other financial indicators that emphasize its ambitious strategy and future vision to strengthen its position in the banking market

The bank's net profit jumped by 93%, to 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.

Net interest income of EGP 4 bn during the first half of 2024, compared to EGP 2.3 bn during the same period of 2023, was touched by a growth of 69.2% and an increase of EGP 1.6 bn.

Net fees and commissions income rose by 20.6%, to EGP 834.2 mn in the first half of 2024, compared to EGP 691.8 mn in the same period from 2023.

At the bank's financial position, the asset portfolio rose to EGP 158 bn by the end of June 2024, compared to EGP 116.8 bn by the end of 2023, with a growth rate of 35.3% and an increase of EGP 41.2 bn.

The Bank's total customer loan portfolio rose by 14.84% and an increase of EGP 8.10 bn during the first half of this year, to EGP 62.72 bn by the end of June 2024, compared to 54.62 bn by the end of December 2023.