Latest news with #ALEXBANK
Zawya
21-05-2025
- Business
- Zawya
ALEXBANK's net profits leap 73% YoY in Q1 2025
Arab Finance: ALEXBANK logged 73% year-on-year (YoY) higher net profits at EGP 3.6 billion in the first quarter (Q1) of 2025, according to the financial results for the financial period ended March 2025. Despite the economic challenges, ALEXBANK maintained its solid position in terms of the capital adequacy ratio which stood at 30.84%, exceeding regulatory requirements. Total operating income increased by 35.7% YoY to EGP 6.1 billion in the first three months of 2025, backed by a 33.19% growth in net interest income to EGP 5.5 billion. Net income from fees and commissions hiked by 63.2% YoY to GP 590.6 billion, while administrative expenses jumped by 17.6% to EGP 1.27 billion. The lender generated a profit before income tax valued at EGP 5.1 billion, marking a surge of 81.4% when compared to Q1 2024. Furthermore, the total assets hit EGP 235.7 billion in Q1 2025, higher by 9.8% when compared to December 2024. Gross loans and customer facilities grew by 2.8% to EGP 75.1 billion. That growth was driven by an 8% increase in total deposits to EGP 181.6 billion, resulting in a net loans to deposit ratio of 38.7%. On the other hand, asset quality remained high, as of non-performing loans ratio edged down by 0.3% to 3.7%, and the release of impairment from credit losses of EGP 31 million. ALEXBANK has contributed to the Egyptian economy through the growth of its assets and liabilities, with total formation of taxes hitting EGP 1.5 billion in Q1 2025. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
ALEXBANK logs profits in Q1-25
Cairo: ALEXBANK witnessed 73% year-on-year (YoY) higher net profits after tax at EGP 3.60 billion, according to the financial results. Total operating income jumped by 35.70% YoY to EGP 6.10 billion as of 31 March 2025, backed by 33.19% higher net interest income at EGP 5.50 billion. The bank achieved a profit before income tax of EGP 5.10 billion, marking an annual leap of 81.40%. Total assets hit EGP 235.70 billion in Q1-25, while the gross loans and customer facilities reached EGP 75.10 billion. This was supported by an increase in total deposits to EGP 181.60 billion, resulting in a net loans to deposit ratio of 38.70%. ALEXBANK recorded a 104.35% YoY leap in net profit to EGP 10.23 billion at the end of December 2024.
Zawya
20-05-2025
- Business
- Zawya
ALEXBANK achieves net profit of EGP 3.63bln as of March 2025, with an increase by 73 % compared to March 2024
Net profit before tax: EGP 5.1 billion (+81.43% vs March 2024) Net interest income, Fees & commission: EGP 6.07 billion (+35.62% vs March 2024) Total assets EGP 235.67 billion (+9.83% vs December 2024) Net loans and facilities to customers: EGP 70.25 billion (+3 % vs December 2024) Total customer deposits: EGP 181.55 billion (+8.04% vs. December 2024) Capital adequacy ratio 30.84% (+2.5% vs. 28.31 % December 2024) ALEXBANK published its financial results for the financial period ended March 2025, confirming the strength of its performance. Despite the economic challenges, ALEXBANK remains one of the strongest in terms of capital adequacy ratio that reached to 30.84% that's far exceed regulatory requirements. This has ascended Total Assets to EGP 235.7 billion (+9.8% vs December 2024), where Gross Loans & Customer Facilities increased by (+2.8% vs December 2024) reached EGP 75.1 billion. That growth was supported by the increase in Total Deposits that reached EGP 181.6 billion (8% vs December 2024), resulting a Net loans to deposit ratio of 38.7%, On the other hand, asset quality remained high, as of non-performing loans ratio decreased to reach 3.7% (-0.3% vs December 2024), and the release of impairment from credit losses of EGP 31 million. ALEXBANK has contributed effectively to the Egyptian economy through the growth of its assets and liabilities, also Total formation of taxes amounted EGP 1.5 billion during 1st Quarter 2025. Total operating income increased significantly to EGP 6.1 billion (+35.7% vs March 2024), supported by growth in Net interest income EGP 5.5 billion (+33.19% vs March 2024) and net income from fees and commissions EGP 590.6 billion (+63.2% vs March 2024), while administrative expenses amounted to EGP 1.27 billion (+17.6% vs March 2024). Accordingly, the bank achieved a profit before income tax of EGP 5.1 billion (+81.4% vs March 2024). The bank's net profit reached EGP 3.6 billion, a significant increase 73%) vs March 2024( Alex bank strategy implementing Cost optimization that leads to achieve impressive cost to income ratio of 20.1% delivering annualized Return on average Assets & Return on average equity 6.5% & 53.9% respectively. This set of results highlights Alex bank dedication to delivering solid results to its shareholders.
Tahya Masr
12-05-2025
- Business
- Tahya Masr
ALEXBANK, In Collaboration with VML Egypt, Wins Three Awards at the 2025 Dubai Lynx Festival for Its 'Save Your Money at ALEXBANK' Campaign
ALEXBANK has proudly announced its win of three prestigious awards at the 2025 Dubai Lynx Festival, the region's leading creative platform, for its Financial Inclusion Campaign 'Save Your Money at ALEXBANK.' The campaign was developed in collaboration with VML Egypt, a creative marketing agency and ALEXBANK's strategic partner. ALEXBANK is part of the Intesa Sanpaolo Group, within the International Banks Division led by Paola Papanicolaou. ALEXBANK has been recognized at the 2025 Dubai Lynx Awards, landing 2 awards—a Silver and a Bronze—in the Consumer Services category, and a bronze for the creative use of sense of humor throughout the campaign recognizing its excellence in delivering financial messages in an innovative and engaging way . Nermine Hassouba, Head of the PR & Marketing Communication Department at ALEXBANK, commented on the great achievement: 'Winning three awards at the 2025 Dubai Lynx Festival is a great honor for us. These awards reflect the success of our vision to deliver creative, relatable, and effective marketing campaigns that resonate with the audience and encourage positive engagement the banking sector.' She added, the 'Save Your Money at ALEXBANK' campaign was part of our ongoing efforts to enhance financial literacy and inclusion, particularly among segments of the population that are traditionally unbanked. Our aim is to make a real difference in people's lives through accessible and innovative products like our 'Ebda'' Saving Account'. Mai Azmy, Chief Operating Officer at VML, added: "These awards reflect the power of collaboration and creativity in delivering impactful campaigns that resonate deeply with audience and ultimately drive positive change. At VML, we are distinguished by our ability to transform strategic insights into profound and inspiring experiences that not only drive success but also foster long-term partnerships. Our collaboration with ALEXBANK serves as a prime example of this approach. ALEXBANK launched the 'Save Your Money at ALEXBANK' campaign to promote the "Ebda'" Saving Account. The account can be opened using only the national ID card, with no opening or maintenance fees, and no minimum balance required. It also offers a competitive monthly return of up to 14%, making it an ideal option for various segments of society. The campaign achieved significant success, reflected in a strong uptake of new account openings .
Zawya
11-05-2025
- Business
- Zawya
ALEXBANK, in Collaboration with VML Egypt, wins three awards at the 2025 Dubai Lynx Festival for its 'Save Your Money at ALEXBANK' Campaign
Cairo – ALEXBANK has proudly announced its win of three prestigious awards at the 2025 Dubai Lynx Festival, the region's leading creative platform, for its Financial Inclusion Campaign 'Save Your Money at ALEXBANK.' The campaign was developed in collaboration with VML Egypt, a creative marketing agency and ALEXBANK's strategic partner. ALEXBANK is part of the Intesa Sanpaolo Group, within the International Banks Division led by Paola Papanicolaou. ALEXBANK has been recognized at the 2025 Dubai Lynx Awards, landing 2 awards—a Silver and a Bronze—in the Consumer Services category, and a bronze for the creative use of sense of humor throughout the campaign recognizing its excellence in delivering financial messages in an innovative and engaging way. Nermine Hassouba, Head of the PR & Marketing Communication Department at ALEXBANK, commented on the great achievement: 'Winning three awards at the 2025 Dubai Lynx Festival is a great honor for us. These awards reflect the success of our vision to deliver creative, relatable, and effective marketing campaigns that resonate with the audience and encourage positive engagement the banking sector.' She added, the 'Save Your Money at ALEXBANK' campaign was part of our ongoing efforts to enhance financial literacy and inclusion, particularly among segments of the population that are traditionally unbanked. Our aim is to make a real difference in people's lives through accessible and innovative products like our 'Ebda'' Saving Account'. Mai Azmy, Chief Operating Officer at VML, added: "These awards reflect the power of collaboration and creativity in delivering impactful campaigns that resonate deeply with audience and ultimately drive positive change. At VML, we are distinguished by our ability to transform strategic insights into profound and inspiring experiences that not only drive success but also foster long-term partnerships. Our collaboration with ALEXBANK serves as a prime example of this approach. ALEXBANK launched the 'Save Your Money at ALEXBANK' campaign to promote the "Ebda'" Saving Account. The account can be opened using only the national ID card, with no opening or maintenance fees, and no minimum balance required. It also offers a competitive monthly return of up to 14%, making it an ideal option for various segments of society. The campaign achieved significant success, reflected in a strong uptake of new account openings. ALEXBANK ALEXBANK is one of Egypt's leading private sector banks established in 1957 and participated by the Intesa Sanpaolo Group since 2007. ALEXBANK owns one of the largest private sector branch networks with a total of 173 branches located in every major Egyptian governorate employing over 4,300 individuals who proudly serve more than 1.9 million customers. ALEXBANK actively serves the widest spectrum of segments by providing value added financial products, services and solutions to Retail, Small Business, Medium and Corporate Enterprises. ALEXBANK is currently in the midst of a radical digital transformation aimed at providing our customers with the most unique of banking experiences, via our seamless multi-channel experience incorporating Internet & Mobile Banking, Cards, Electronic wallets, and the latest generation of point-of-sale & ATMs, all powered through the power of Big Data and empowered by key players in the Fintech ecosystem. Intesa Sanpaolo Intesa Sanpaolo, with over 422 billion euros in loans and 1,350 billion euros in customer financial assets at the end of June 2024, is the largest banking group in Italy with a significant international presence. It is a European leader in wealth management, with a strong focus on the digital and fintech sectors. In the area of ESG, it has planned 115 billion euros of Impact funding by 2025, for the community and the green transition. The programme for and in support of people in difficulty amounts to 1.5 billion euros (2023-2027). The Bank's Museum network, the Gallerie d 'Italia, is the exhibition venue for its artistic heritage and cultural projects of recognised value.
