EBank's loans to the private sector rise to EGP 48.6 bn by the end of September 2024

EBank's separate financial statements revealed that the Bank has strengthened its loans volume to support the private sector over the past year. The Bank's total private sector loan portfolio rose from 39.80 billion pounds by the end of December 2023 to EGP 48.57 bn by the end of September 2024, with a growth rate of 22.1% and an increase of EGP 8.78 bn during the first 9 months of 2024.

This is part of the Bank's growing interest in the sector thanks to its key role in economic development. Private sector loans is one of the main pillars on which the Export Development Bank of Egypt relies to strengthen its role as a key driver of economic growth.

The growth was attributable to the rise in the size of the Bank's private sector current account balance during the first 9 months of last year at a growth rate of 25% and an increase of EGP 6.89 bn, reaching EGP 34.68 bn by the end of September 2024, compared to EGP 27.79 bn by the end of December 2023.

The size of the debit current account balance portfolio accounted for the largest share of the Bank's total loans for the private sector, accounting for about 71.40% by the end of September 2024.

The Bank's direct loans portfolio for the private sector jumped by 27.3% and an increase of EGP 2.54 bn over the first 9 months of last year, moving from EGP 9.33 bn by the end of December 2023, reaching EGP 11.88 bn by the end of September 2024