FABMISR's retail banking sector achieves significant performance during 2024

The retail banking sector at First Abu Dhabi Bank – Egypt «FABMISR» witnessed exceptional performance during 2024, reflecting its firm commitment to achieving excellence and meeting customer aspirations in light of a renewed economic environment.

At the core of this distinction, the fruits of hard work have clearly emerged in the retail loans and retail deposits sectors, where the integration between the strategic vision and precise implementation constituted a crucial element in achieving outstanding results.

At the level of individual loans, excellence was embodied in designing smart financing solutions that meet the changing needs of customers, supported by advanced digital platforms that facilitated the procedures for obtaining financing, which contributed to expanding the scope of financial inclusion and raising customer satisfaction rates.

These efforts resulted in an increase in the «FABMISR» portfolio by about 18.53% during 2024, reaching 20.8 billion pounds by the end of 2024, compared to 17.55 billion pounds by the end of 2023, an increase of 3.25 billion pounds.

This growth was supported by an increase in the bank’s personal loan portfolio by about 23.13%, with an increase of about 2.83 billion pounds over the past year, reaching 15.05 billion pounds by the end of 2024, compared to 12.22 billion pounds by the end of 2023.

The credit card portfolio also increased at a growth rate of 30.69%, with an increase of about 327.02 million pounds over the past year, reaching 1.39 billion pounds at the end of 2024, compared to 1.07 billion pounds at the end of 2023.

The size of the car loan portfolio increased by 15% over the past year, recording about 2.80 billion pounds by the end of 2024, compared to 2.44 billion pounds by the end of 2023.

As for the current account balances of individuals, they reached 1.16 billion pounds at the end of 2024, while housing loans recorded 396.16 million pounds at the end of the same period.

The retail sector in «Abu Dhabi First - Egypt» contributed about 13.97% to the bank’s total loan portfolio, which jumped to 148.898 billion pounds by the end of 2024, compared to 91.287 billion pounds by the end of 2023, with a growth rate of 63.11%, and a total increase of 57.611 billion pounds.

As for the deposits sector, the bank attracted individual deposits through a balanced package of offers that combine security, flexibility and competitive returns, which enhanced customer confidence and the sustainability of money flows, thus supporting the bank’s stability and sustainable growth.