Subscribe to Egypt Claps

Export Development Bank’s net profits see a remarkable 154% YoY increase

Net income from fees and commissions the main driver

What

Yesterday, the Export Development Bank (aka EBank) shared its 2023 financial results. Here are the metrics you need to know…

Net Interest Income: It hit EGP 5.72 billion in 2023, jumping by 79% YoY. This shows the gap between interest earned from loans and interest paid out to depositors.

Net Profit: Consolidated net profit for 2023 amounted to EGP 3.4 billion from EGP 1.39 billion in 2022, marking a 154% YoY increase.

The Standout

Net income from fees and commissions was EGP 1.53 billion in 2023 from EGP 583.8 million in 2022, a substantial 161% increase YoY.

Claps Class – Net Income from Fees and Commissions: Net income from fees and commissions is profit generated by the bank from fees and commissions such as account maintenance, ATM usage wire transfers, and commissions earned from facilitating financial transactions or investments for clients.