EBank's loans to private sector rises by 39.7% in 2024, recording EGP 55.6 bn

EBank has been able to significantly boost its private sector funding over the past year, in light of the importance of this sector in promoting a boom in economic growth and the potential for more jobs on the market.

EBank's total loans portfolio for the private sector rose by 39.69%, marking an increase of 15.79 billion pounds over the past year, reaching 55.59 billion pounds by the end of 2024, compared to 39.80 billion pounds by the end of 2023.

The relative weight of private sector loans increased to 87.08% of EBank's total corporate loans by the end of last year, compared to 84.85% of the bank's total corporate loans by the end of 2023.

This growth was driven mainly by a rise in private sector current account balances at a growth rate of 39.41%, bringing an increase of 10.95 billion pounds, moving from 27.79 billion pounds by the end of 2023, to 38.74 billion pounds by the end of 2024.

Debit current account balances accounted for 69.69% of EBank's total loans to the private sector by the end of last year.

The Bank's direct private sector loan portfolio jumped by 4.11 billion pounds to see growth of 44.06% over the past year, reaching 13.44 billion pounds by the end of 2024, compared with 9.33 billion by the end of 2023.

The private sector direct loan portfolio accounted for a relative weight of about 24.18% of the bank's total loans to that sector by the end of last year.

With regard to "EBank" private sector joint loans, it recorded growth of 15.53% and an increase of 564.1 million pounds over the past year, reaching 4.20 billion pounds by the end of 2024, compared to 3.63 billion by the end of 2023.

The size of the Bank's private sector joint loan portfolio accounted for about 7.55% of its total private sector financing by the end of last year.

The Bank's total corporate loans rose by 36.11% over the past year, registering 63.84 billion pounds by the end of 2024, compared to 46.90 billion by the end of 2023, with an increase of 16.94 billion pounds.

The bank's total customer loans rose by 36.84% and an increase of 2.01 billion pounds over the past year, reaching 74.74 billion pounds by the end of 2024, compared with 54.62 billion by the end of 2023.