Ahli United Bank Egypt’s consolidated profits climb 63% YoY in 2023

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Ahli United Bank Egypt recorded consolidated net profits of EGP 3.32 billion in 2023, jumping by 62.9% year on year (YoY) from EGP 2.04 billion, according to an emailed press release.

Meanwhile, the bank’s standalone net profits rose 65% YoY to EGP 3.31 billion from EGP 2.01 billion.

Return on equity (RoE) saw a 25.5% YoY increase at the end of December 2023, recording EGP 13.38 billion, up from EGP 10.66 billion.

The bank’s total assets increased by 32.3% to EGP 113.4 billion at the end of December 2023, versus EGP 85.7 billion at the end of December 2022.

Moreover, the bank’s loans and credit facilities portfolio increased by 25.2% to EGP 67.5 billion at the end of December 2023, compared to EGP 53.9 billion at the end of December 2022.

Meanwhile, the customers' deposits portfolio grew by 29% to EGP 90.03 billion at the end of December 2023, versus EGP 69.8 billion at the end of December 2022.