Cairo – Mubasher: The consolidated net profits after tax of the Export Development Bank of Egypt (EBE) reached EGP 3.40 billion in 2023, higher year-on-year (YoY) than EGP 1.33 billion.
The lender posted net income valued at EGP 5.71 billion as of 31 December 2023, compared to EGP 3.19 billion in 2022, according to the financial results.
Total assets hiked to EGP 118.42 billion last year from EGP 98.32 billion in 2022, while the customers’ deposits enlarged to EGP 86.70 billion from EGP 72.68 billion.
Standalone Results
Non-consolidated profits after tax hit EGP 3.12 billion in the January-December 2023 period, versus EGP 1.22 billion in 2022.
The bank’s standalone net income amounted to EGP 5.41 billion as of 31 December 2023, up YoY from EGP 3.04 billion.
Basic earnings per share (EPS) grew to EGP 4.32 in 2023 from EGP 2.01 a year earlier.
In the first nine months (9M) of 2023, the EGX-listed lender recorded consolidated net profits after tax valued at EGP 2.29 billion, an annual leap from EGP 993.53 million.
EBE is targeting net profits after tax worth EGP 3.65 billion in 2024, which marks a 19% YoY hike from EGP 3.07 billion.
