EBE records EGP 1.103bn net profit in FY 2019/20

Shaimaa Raafat
2 Min Read

The Export Development Bank of Egypt (EBE) has recorded net profit of about EGP 1.103bn at the end of fiscal year (FY) 2019/20, down from the EGP 1.116bn gained in FY 2018/19.

According to a bank statement to the Egyptian Exchange (EGX) on Sunday, the bank’s profit before tax (PBT) amounted to about EGP 1.509bn in June 2020. This illustrated a slight increase on the EGP 1.424bn recorded in June 2019.

The bank’s net income stood at about EGP 1.965bn in FY 2019/20, up from to EGP 1.803bn in FY 2018/19.

The EBE added that its loan and facilities portfolio amounted to about EGP 31.297bn in FY 2019/20, compared to EGP 25.096bn in FY 2018/19. The bank’s syndicated loans portfolio recorded about EGP 5.195bn in the most recent FY, down from EGP 5.488bn in FY 2018/19.

The bank’s consolidated financial statements revealed that total customer deposits at the bank increased to EGP 43.947bn in June 2020, compared to EGP 40.072bn in the comparison period.

The bank’s total assets recorded about EGP 57.236bn in FY 2019/20, up from EGP 50.833bn in FY 2018/19, while equity rose to EGP 6.052bn compared to EGP 5.366bn. The bank’s capital adequacy ratio was about 14.59% at the end of June 2020, up from 14.83% in June 2019.

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