Abu Dhabi Islamic Bank - Egypt topped First Bank list of the fastest growing banks in Mortgage loans, with a g

Analysis

ADIB Egypt leads Egyptian banks in Mortgage loans' growth rate during 2022

5/15/2023 11:06:00 AM

Abu Dhabi Islamic Bank - Egypt topped First Bank list of the fastest growing banks in Mortgage loans, with a growth rate of 569.39% over the past year.

The bank's Mortgage finance portfolio increased from EGP36.65 mn at the end of 2021 to EGP245.35 mn at the end of 2022, an increase of EGP208.7 mn.

Mortgage finance portfolio during 2022, tended to diversify between different geographical regions, compared to 2021, in which Greater Cairo sectors acquired total portfolio reached EGP36.65 mn.

Abu Dhabi Islamic Bank’s tendency to expand in granting Mortgage finance to the various regions of Egypt played an important role in this large increase, during the past year, in addition to the large increase in its Mortgage loans to Greater Cairo, as it jumped by about 544.17%, until it reached EGP236.11 mn by the end of 2022, compared to EGP36.65 mn by the end of 2021, an increase of EGP 199.45 mn.

Greater Cairo sectors acquired the largest share of the portfolio, constituting about 96.23% of the bank's total Mortgage finance by the end of 2022.

Alexandria, Delta and Sinai obtained Mortgage finance reached EGP6.86 mn from the bank, by the end of 2022, while Upper Egypt obtained EGP 2.38 mn by the end of the same period.