PHOTO
A branch of ALEXBANK is pictured in Cairo, Egypt July 30, 2017. Mohamed Abd El Ghany, Reuters
Cairo – ALEXBANK recorded a net profit of EGP 10.23 billion at the end of December 2024, higher by 104.35% year-on-year (YoY) versus 2023.
Total net interest income, fees and commissions increased by 62.30% YoY to EGP 21.51 billion in 2024, according to the financial results.
Net interest income hiked by 61.48% YoY to EGP 19.39 billion as of 31 December 2024, while administrative expenses jumped by 30.16% YoY to EGP 5.04 billion.
Despite the current economic challenges, ALEXBANK maintained its capital adequacy ratio, with Tier 1 of the capital base of EGP 18.96 billion and the total capital base of EGP 19.75 billion.
It achieved a 26.27% capital adequacy ratio, exceeding the mandatory ratio set by the Central Bank of Egypt (CBE).
Total assets increased by 32.48% to EGP 214.57 billion last year when compared to 2023, while the deposits surged by 26.02% to EGP 168.03 billion.
In the first half (H1) of 2024, the bank’s net profits after tax stood at EGP 5.08 billion, up from EGP 2.36 billion in H1-23.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
