After completing a successful merge with «BLOM», Amr Tharwat strengthens the position of Bank ABC in the Egyptian banking market

Amr Tharwat, CEO and Managing Director of ABC Bank Egypt FirstBankAmr Tharwat, CEO and Managing Director of ABC Bank Egypt

The year 2022 witnessed the official merger of the Arab Banking Corporation Bank – Egypt «ABC» with Blom Bank Egypt, which constituted a strategic turning point in the bank’s path within the Egyptian banking market.This merger resulted in the establishment of a banking entity that possesses a strong capital base and a diversified asset portfolio, supported by a vision Expansion led by Amr Tharwat, CEO and Managing Director of the bank which succeeded in directing «ABC» towards achieving record growth rates within a short period of time.

In this episode, we discuss with decision makers the impact of the «Amr Tharwat» strategy on the development of the indicators of «ABC» Bank Egypt during the last two years, as it achieved an achievement that reflects the strength of its expansion strategy and the efficiency of its credit management, after the bank’s total customer loans achieved a boom with a growth rate of 518%, and an increase in the size of the portfolio.With a value of 27.46 billion pounds, it will rise from 5.30 billion pounds by the end of 2022, to 32.77 billion pounds by the end of 2024.

The bank’s customer deposit portfolio witnessed record growth over a short period of time, rising at a growth rate of 402% and an increase of 55.42 billion pounds, to record 69.20 billion pounds by the end of 2024, compared to 13.78 billion pounds by the end of 2022.

The bank's total asset portfolio also jumped as a result of its distinguished leadership to 83.30 billion pounds by the end of 2024, compared to 16.49 billion pounds by the end of 2022, recording a growth rate of 405% and an increase of 66.82 billion pounds during the last two years alone.

Looking at the bank’s profitability indicators, its net profits increased more than 33 times to record 2.07 billion pounds during the year 2024, compared to 62 million pounds during the year 2022, recording a growth rate of 3422% and an increase exceeding 2 billion pounds.

Net income from interest at «ABC» Bank Egypt increased at a growth rate of 631% and an increase of 3.87 billion pounds in just two years, reaching 4.49 billion pounds in 2024, compared to 613.8 million pounds in 2022.

Net income from fees and commissions also increased at a growth rate of 541% to record an increase of 451.9 million pounds, reaching 535.5 million pounds during 2024, compared to 83.6 million pounds during 2022.