Maged Fahmy, chairperson of the Industrial Development Bank (IDB), revealed the most prominent indicators of bank’s performance until the end of October 2018, compared to past years.
Financial Position
According to Fahmy, the total financial position of the bank by the end of October 2018 scored EGP 21.849bn, up from EGP 16.146bn in October 2017, up by EGP 5.703bn (35%).
The bank’s financial position was estimated at EGP 6.211bn in October 2013; EGP 6.194bn in October 2014; EGP 5.82bn in October 2015, and EGP 7.795bn in October 2016, which means that the figure jumped by EGP 15.638bn in the last five years, marking a 252% growth.
Deposits
Deposits reached EGP 16.194bn at the end of October 2018, up from EGP 11.193bn in October 2017, an increase of EGP 5.001bn, or 45%, indicated Fahmy.
The volume of deposits amounted to EGP 1.454bn in October 2013; EGP 1.515bn in October 2014; EGP 2.005bn in October 2015, and EGP 3.517bn in October 2016, which means that deposits jumped in the past five years by EGP 14.740bn, marking an increase of 1014%.
Loans
IDBH’s loan portfolio stood at about EGP 8.875bn at the end of October 2018, up from EGP 7.333bn in October 2017, with an increase of EGP 1.542bn (21%), stated the bank’s chairperson.
The total employment rate (loans to deposits) marked 55% in October 2018, down from 65% in October 2017.
This figure was at 273% at the end of October 2013; 292% at the end of October 2014; 238% at the end of October 2015, and about 150% at the end of October 2016.
The volume of loans amounted to EGP 3.972bn in October 2013; EGP 4.415bn in October 2014; EGP 4.415bn in October 2015, and EGP 5.289bn in October 2016, which means that loans jumped in the past five years by EGP 4.903bn, marking an increase of 123%, pointed out Fahmy.
Regular loans
On the level of the regular loan portfolio, Fahmy explained that it amounted to about EGP 7.543bn at the end of October 2018, up from EGP 6.128bn in October 2017, growing by EGP 1.415bn, or 23%.
The volume of these loans amounted to EGP 2.314bn in October 2013; EGP 2.791bn in October 2014; EGP 3.239bn in October 2015, and EGP 3.883bn in October 201, which means that they jumped in the past five years by EGP 5.229bn, marking an increase of 226%.
The ratio of regular loans to the bank’s total deposits stood at 47% at the end of October 2018, compared to 55% at the end of October 2017, and 110% at the end of October 2016, 162% at the end of October 2015, 184% at the end of October 2014, and 159% at the end of October 2013.
Non-performing loans
In contrast, Fahmy clarified that the volume of the bank’s non-performing loan (NPL) portfolio fell from EGP 1.658bn in October 2013 to EGP 1.332bn in October 2018, down by EGP 326m.
The total NPLs to total loans stood at 18% by the end of October 2018, compared to about 20% by the end of October 2017, and 27% by the end of October 2016, and 32% the end of October 2015 and 36% the end of October 2014, and 41% by the end of October 2013.
Net profit
According to Fahmy, the bank’s net profit by the end of October 2018 amounted to EGP 303m in October 2018, against EGP 250m in October 2017, up by EGP 53m or 21%.
These profits are compared to EGP 114m in October 2013; EGP 128m in October 2014; EGP 115m in October 2015, and EGP 148m in October 2016, which means that profits increased in the past five years by EGP 189m or 166%.
Net income of the bank
The bank’s net income from commissions rose to EGP 51m at the end of October 2018, against EGP 49m in October 2017, rising by EGP 2m, or 4%, mentioned Fahmy.
The bank’s figures indicate a commission revenue of EGP 40m in October 2013; EGP 45m in October 2014; EGP 39m in October 2015 and October 2016.
The bank’s net income from the revenues reached EGP 513m at the end of October 2018, compared to EGP 436m in October 2017, up by EGP 77m, or 18%.
This compares with about EGP 222m in October 2013; EGP 224m in October 2014; EGP 232m in October 2015, and EGP 258m in October 2016, which means that the figure increased by EGP 291m in the past five years, marking the growth of 131%.
The return on capital reached about 60% by the end of October 2018, compared to 50% at the end of October 2017, about 29% by the end of October 2016, and about 23% by the end of October 2015, and about 26% by the end of October 2014 and about 22% by the end of October 2013, concluded Fahmy.
