CIB's industrial corporate finance jumps to EGP58.33 bn

The Commercial International Bank Egypt strengthened its financing for industrial corporate during the past year, as its loans to industrial corporates jumped by about 27.91%, until it reached EGP58.33 bn by the end of 2022, compared to EGP45.61 bn by the end of 2021, an increase of EGP12.73 bn.

First Bank shows CIB's financing for industrial corporate among the bank’s various products during 2022.

Over the past year, the bank expanded in providing loans to industrial corporate through debit current accounts, which increased by 24.01%, to reach EGP18.43 bn at the end of 2022, compared to EGP14.86 bn at the end of 2021, an increase of EGP3.57 bn.

Industrial corporate acquired 43.40% of the bank’s debit current account portfolio, which increased by 45.58%, to reach EGP42.47 bn at the end of 2022, compared to EGP29.17 bn at the end of 2021, an increase of EGP13.3 bn.

CIB’s direct financing to industrial corporate witnessed a significant growth over the past year, jumping from EGP 22.27 bn at the end of 2021, to EGP 34.22 bn by the end of 2022, achieving a growth rate of 53.65%, and an increase of EGP 11.95 bn.

The bank's direct loan portfolio jumped by 56.82%, to reach EGP78.03 bn at the end of 2022, compared to EGP49.76 bn at the end of 2021, an increase of EGP28.27 bn, occupying the second place on First Bank list of listed banks with the fastest growth in direct loans during 2022.

CIB’s Co-finance for industrial corporate declined significantly over the past year, reaching EGP 5.56 bn at the end of 2022, compared to EGP 8.44 bn at the end of 2021, a decrease of EGP 2.88 bn.

The bank's syndicated loan portfolio increased slightly over the past year, by  3.86%, to record EGP 44.72 bn at the end of 2022, compared to EGP 43.06 bn at the end of 2021.

The bank’s financing to industrial corporate through other loans, it increased from EGP33.49 mn at the end of 2021 to EGP124.45 mn at the end of 2022, with a growth rate of 271.62%, and an increase of EGP90.96 mn.

In this item, industrial corporate acquired the total value of CIB's financing from other loans.

CIB’s financing for industrial corporate through various products contributed 35.28% to its total corporate loan portfolio.

Corporate finance portfolio jumped by 35.50%, to reach EGP165.35 bn by the end of 2022, compared to EGP122.02 bn by the end of 2021, an increase of EGP43.32 bn, making the bank the third on the First Bank list of listed banks with the fastest growth in corporate loans during 2022.

Industrial corporate loans through the bank’s various products contributed 26.68% to the bank’s total loans portfolio which jumped from EGP163.09 bn at the end of 2021, to EGP218.63 bn at the end of 2022, achieving a growth rate of 34.06%, and an increase of EGP55.55 bn, occupying  third place on First Bank list of the fastest growing listed banks in terms of total customer loans.