saib's loans for industrial corporates increases by 16% during 2024, recording EGP6.8 bn

saib was able to significantly enhance its loans for industrial corporates during 2024, after its value increased to the equivalent of 6.84 billion pounds by the end of 2024, compared to the equivalent of 5.91 billion pounds by the end of 2023, growing at a rate of 15.84% and an increase equivalent to 935 million pounds.E

This growth was driven by an increase in the balances of current accounts receivable by the bank’s industrial institutions, which jumped at a growth rate of 25.59% over the past year, reaching the equivalent of 5.83 billion pounds by the end of 2024, compared to the equivalent of 4.64 billion pounds by the end of 2023, an increase equivalent to 1.19 billion pounds.

The debit current account balances for this activity accounted for about 85.24% of the bank’s total loans to industrial corporates at the end of 2024, compared to a relative weight of 78.62% of its total loans to industrial corporates at the end of 2023.

The increase in total direct loans to industrial corporates also contributed to this growth, after recording a growth rate of 6.15% and achieving an increase of 32.4 million pounds over the past year, reaching the equivalent of 558.4 million pounds by the end of 2024, compared to the equivalent of 526 million pounds by the end of 2023, obtaining a percentage 8.16% of the bank’s total loans to industrial corporates by the end of 2024.

The size of syndicated loan portfolio granted by the bank to support the industrial enterprises sector amounted to the equivalent of 399.6 million pounds at the end of 2024, while the size of the other loan portfolio for this activity recorded about 52.3 million pounds at the end of the same period.

The relative weight of the size of the loan portfolio granted to industrial institutions recorded about 14.83% of the total financing of «Saib» Bank for institutions at the end of last year, compared to a relative weight of 17.62% of the bank’s total financing for customers at the end of 2023.

It is worth noting that the bank’s total corporate loans increased at a growth rate of 37.61%, recording an increase of 12.61 billion pounds over the past year, reaching the equivalent of 46.15 billion pounds by the end of 2024, compared to the equivalent of 33.54 billion pounds by the end of 2023.

The bank’s total customer loans also increased to the equivalent of 65.93 billion pounds by the end of 2024, compared to the equivalent of 46.18 billion pounds by the end of 2023, growing at a rate of 42.76% and achieving an increase of 19.75 billion pounds over the past year.