Ahli United Bank soars corporate finance to EGP15.42 bn

Ahli United Bank - Egypt strengthened its support for industrial corporate, during 2022, as the value of its financing increased by EGP 4.20 bn, reaching EGP15.42 bn by the end of 2022, compared to EGP11.22 bn by the end of 2021, achieving a growth rate of 37.49% on an annual basis.

However, this large increase was not sufficient to increase its share in financing market for industrial corporate, as it declined slightly to 2.29% of the total industrial sector loans provided by banks at the end of 2022, compared to 2.61% at the end of 2021, losing about 0.32% of its share over the past year.

First Bank monitors the development of Ahli United Bank - Egypt financing for industrial corporate among the bank’s various products during 2022.

Ahli United Bank expanded significantly in providing financing to industrial corporate through syndicated loans, as it jumped to EGP1.75 bn by the end of 2022, compared to EGP1.14 bn by the end of 2021, achieving a growth rate of 53.98%, and an increase of EGP613.68 mn.

Industrial corporate in this item acquired 26.64% of the bank’s syndicated loan portfolio, which increased by 28.74%, to reach EGP 6.57 bn by the end of 2022, compared to EGP5.10 bn by the end of 2021, an increase of EGP1.47 bn, ranking sixth on First Bank list of the fastest growing Egyptian banks in syndicated loans during the past year.

Ahli United Bank’s direct financing to industrial corporate witnessed a significant growth over the past year, as it jumped by 36.42%, reaching EGP13.34 bn at the end of 2022, compared to EGP 9.78 bn at the end of 2021, an increase of EGP3.56 bn.

AUB’s direct loans to industrial corporate acquired 33.97% of the bank’s total direct financing by the end of 2022.

The bank's direct finance portfolio jumped to EGP39.28 bn by the end of 2022, compared to EGP 27.63 bn by the end of 2021, achieving a rate of 42.15%, and an increase of EGP 11.65 bn.

While the bank did not expand much in providing financing through debit current accounts during the past year, as it increased by 9.51%, to reach EGP324.85 mn at the end of 2022, compared to EGP 296.63 mn at the end of 2021, an increase of EGP28.21 mn.

Industrial corporate acquired 7.15% of the bank’s debit current account portfolio, which increased by 29.91%, to reach EGP 4.54 bn at the end of 2022, compared to EGP 3.5 bn at the end of 2021, an increase of EGP 1.05 bn.

The bank’s financing for industrial corporate acquired 30.60% of the bank’s total corporate loan by the end of 2022, which jumped by 39.08%, to reach EGP 50.39 bn at the end of 2022, compared to EGP36.23 bn at the end of 2021, an increase of EGP 14.16 bn, bringing the bank to fifth place on the list of the fastest growing in corporate loans during 2022.

While the bank’s loans to industrial corporate through the bank’s various products contributed about 28.82% to the bank’s total customer loans, which jumped to EGP53.5 bn at the end of 2022, compared to EGP 38.75 bn at the end of 2021, achieving a growth rate of 38.06%, and an increase of EGP14.75 bn, It ranks fourth on First Bank list of listed banks with the fastest growing total customer loans.