Kuwait Finance House-Egypt leads Islamic banks in corporate financing market

A recent monitoring conducted by the «First Bank» website revealed that Kuwait Finance House Bank – Egypt topped the list of the largest Islamic banks operating in the Egyptian banking market in terms of the volume of corporate financing (including small loans for economic activities).

According to the bank’s independent financial statements, «Kuwait Finance House – Egypt» accounts for about 36.69% of the total financing of corporates in Islamic banks operating in the Egyptian banking sector, as the size of the bank’s portfolio reached 80.039 billion pounds at the end of 2024, compared to 63.438 billion pounds at the end of 2023, with a growth rate of 26.17%.%, and a total increase of 16.601 billion pounds.

This strong performance was largely supported by the increase in current account debit balances of corporates, which recorded a growth of 169.07% –, equivalent to an addition of 8.60 billion pounds during the year 2024 –, rising from 5.09 billion pounds at the end of 2023 to 13.69 billion pounds at the end of last year, thus acquiring about 17.10%.Of the bank's total institutional financing portfolio.

The bank's direct corporate financing portfolio increased at a growth rate of 12.87%, with an increase of 6.33 billion pounds over the past year, to record 55.51 billion pounds by the end of 2024, compared to 49.18 billion pounds by the end of 2023, controlling 69.35% of the bank's total institutional financing by the end of 2024.

The syndicated financing portfolio recorded a growth of 18.25%, adding 1.67 billion pounds during the year 2024, moving from 9.18 billion pounds by the end of 2023, to 10.85 billion pounds by the end of 2024, acquiring 13.55% of the bank’s total institutional financing portfolio.

Corporate sector at Kuwait Finance House Bank – Egypt contributes 94.17% to the total customer financing portfolio, which increased over the past year by 26.57% to reach 84.99 billion pounds by the end of 2024, compared to 67.15 billion pounds by the end of 2023, recording an increase of 17.84 billion pounds.

It is worth noting that the Kuwait Finance House Group announced last January that, as part of its full acquisition of the Ahli United Bank Group–Bahrain in 2022, the brand of Ahli United Bank–Egypt was changed to Kuwait Finance House Bank– KFH Egypt.