Ahli United Bank Egypt records 2.04bln net profit in 2022

Ahli United Bank – Egypt (AUBE) has announced on Tuesday an increase by 73.9 percent in its consolidated net profits to reach 2.04 billion Egyptian pounds in 2022, compared to 1.18 billion pounds in 2021.

The total portfolio of loans and facilities before provisions that granted to customers enhanced by 36.5 percent on an annual basis during 2022, to record 53.9 billion pounds, compared to 39.5 billion pounds by the end of 2021, the bank added.

The growth of the loans and facilities portfolio came in line with its expansionary policy of financing economically feasible projects, as well as the expansion of individual products and services.

The bank’s financial statement revealed the total balance of customer deposits inched from 53.5 billion pounds at the end of 2021 to 69.8 billion pounds at the end of 2022, achieving an increase of 30.4 percent on an annual basis.

The statement added the bank’s total assets increased by 33 percent on an annual basis, to record 85.7 billion pounds on December 31, 2022, compared to 64.5 billion pounds on December 31, 2021.