Ahli United Bank Top Banks in focusing on corporate Loans Investment by March-2023 end

Egypt's Ahli United Bank has claimed the top spot on First Bank list of corporates most focused on investing in corporate loans by the end of the first quarter of 2023. The bank's portfolio of corporate loans accounted for a staggering 94.74% of its total loan portfolio.

The bank's financing portfolio for corporates increased by 9.44%, reaching EGP55.15 bn by the end of March 2023, compared to EGP 50.39 bn at the end of 2022, representing an increase of EGP4.76 bn.

Regarding Ahli United Bank's total financing, it rose from EGP53.5 bn at the end of 2022 to EGP58.21 bn by the end of the first quarter of 2023, marking a rise of EGP4.71 bn.

The bank continues to demonstrate robust performance throughout the current year, as indicated by its results for the first six months of the year. Net profits have surged by 143.26%, totaling EGP2.185 bn during the first half of 2023, compared to EGP898.2 mn during the same period in 2022, signifying an increase of EGP1.287 bn.

Net interest income reached EGP2.25 bn during the first half of 2023, up from EGP 1.27 bn in the same period of 2022, reflecting a growth rate of 77.66% and an increase of EGP983.01 mn.

Net fees and commissions income surged by 126.66%, reaching EGP462.95 mn during the first half of the current year, compared to EGP204.25 mn during the same period in 2022, representing an increase of EGP258.71 mn.

The bank's deposit portfolio increased by a rate of 20.83%, reaching EGP 84.3 bn by the end of June 2023, compared to EGP69.8 bn at the end of 2022, reflecting an increase of EGP14.5 bn.

The asset portfolio experienced a rise of 25.53%, reaching EGP107.3 bn by the end of June 2023, compared to EGP85.5 bn at the end of 2022, marking a substantial increase of EGP 21.8 bn.