Earnings Report /

Export Development Bank Of Egypt: 2Q22 – Satisfactory sequential growth but impressive annually

  • Earnings were sequentially supported by 1) robust NIM, 2) lower OPEX, and 3) lower effective tax rate

  • Loans expanded by +2% q/q and +15% YTD and deposits expanding by 5% q/q to bring YTD growth to 9%

  • EXPA is trading at P/E22 of 4.3x, and P/B22 of 0.4x, on ROAE of 10%

Al Ahly Pharos Securities Brokerage
21 August 2022


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