Financing Portfolio QualityThe bank’s net return margin increased to 11.3% from 7% in 2022, and the percentage of non-performing loans decreased to 6.9% in the fiscal year 2023. As a result, customer deposits increased by 13.2%, reaching EGP 101.3bn in the fiscal year 2023, compared to EGP 89.485bn in 2022. He pointed out that the total loans to deposits ratio increased to 44.9% in 2023, compared to 42.6% in the previous year. Ghanem also revealed that the number of subscribers to the Internet and mobile banking applications increased by 72% in 2023, compared to the same period in 2022. The percentage of users of the Internet and mobile banking applications also increased by 108% in 2023, compared to 2022.

Source: Daily News Egypt March 03, 2024 10:31 UTC