Cairo – Mubasher: Export Development Bank of Egypt (EBE) witnessed an annual leap in consolidated net profits after tax to EGP 1.33 billion in 2022, versus EGP 627.14 million, including non-controlling equity.
The net interest income amounted to EGP 3.19 billion in January-December 2022, up from EGP 1.99 billion a year earlier, according to the financial results.
Total assets hiked to EGP 98.30 billion last year from EGP 77.26 billion in 2021, whereas the clients’ deposits enlarged to EGP 72.68 billion from EGP 64.30 billion.
Standalone Business
The EGX-listed bank registered EGP 1.22 billion in standalone net profit after tax last year, a surge from EGP 501.38 million in the January-December 2021 period.
Non-consolidated net interest income jumped to EGP 3.04 billion in 2022 from EGP 1.83 billion in 2021, whereas the earnings per share (EPS) rose to EGP 2.04 from EGP 1.55.
The total standalone assets jumped to EGP 96.72 billion as of 31 December 2022 from EGP 76.20 billion a year earlier, while the clients’ deposits soared to EGP 72.85 billion from EGP 64.38 billion.
Financial Results for Q4-22
During the fourth quarter (Q4) of 2022, the lender’s consolidated net profits after tax widened to EGP 345.66 million from EGP 186.79 million in Q4-21, including minority shareholders’ rights. Meanwhile, the net interest income surged to EGP 1.04 billion from EGP 552.58 million.
Standalone profits after tax hit EGP 285.23 million in Q4-22, compared to EGP 150.37 million in Q4-21.
The non-consolidated interest income grew to EGP 966.24 million from EGP 488.15 million, while the earnings per share (EPS) went up to EGP 0.72 from EGP 0.46.
In the first nine months (9M) of 2022, EBE generated EGP 993.53 million in consolidated net profit, higher by 125.60% year-on-year (YoY) than EGP 440.34 million, including minority interest.
Last month, the lender submitted the needed documents to the Egyptian Exchange (EGX) for a capital raise via bonus shares.
