saib's loans for industrial activity jump 46.2% fur ng 9M-2024, registering EGP 8.65 bn

saib continues to strengthen its support to the industrial sector, in the light of its strategic vision and vital role in driving the national economy, especially in the light of the current global economic challenges.

This prompted saib to increase its support for industrial activity. With regard to the Bank's figures, the volume of its loans to this sector jumped by 46.24% and an increase of 2.74 billion pounds during the first 9 months of last year, reaching 8.65 billion pounds by the end of September 2024, compared to 5.92 billion by the end of December 2023.

Industrial activity accounted for about 13.20% of saib's total customer loans by the end of September 2024, accounting for about 12.79% of its total corporate loan portfolio by the end of December 2023.

In light of this record growth, the First Bank website monitors the development of saib loans for industrial activity through the Bank's various products during the first 9 months of 2024.

The Bank's combined loan portfolio for industrial activity also grew significantly, rising by 19.59% and increasing by 133 million pounds during the first 9 months of last year, moving from 677 million pounds by the end of December 2023, to 810 million by the end of September 2024, representing about 9.36% of saib's total loans for industrial activity by the end of last September.

As for the portfolio of direct loans for industrial activity, it increased by 11.11% and increased by 59 million pounds during the first 9 months of last year, registering 585 million pounds by the end of September 2024, compared to 527 million by the end of December 2023, and accounting for 6.76% of the Bank's total loans for industrial activity by the end of September 2024.

The bank's total corporate loans jumped by 42% during the first 9 months of last year, reaching 47.69 billion pounds by the end of September 2024, compared to 33.59 billion by the end of December 2023, marking an increase of 14.10 billion pounds.

saib's total customer loans jumped by 41.69%, with an increase of 20.77 billion pounds over the first 9 months of last year, to 65.53 billion pounds by the end of September 2024, compared to 46.25 billion by the end of December 2023.