ABK-Egypt's Retail Loans Grow by 13.2% During H1-2023, Reaching EGP 13.8 Bn

The separate financial statements of Ahli Bank of Kuwait - Egypt, ABK-Egypt, for the period ending on June 30th of the preceding year, have revealed a growth in the bank's portfolio of individual loans by a rate of 13.2% during the first half of 2023, amounting to an increase of EGP 1.6 bn.

The size of the bank's portfolio of Retail loans reached EGP 13.8 bn by the end of June 2023, compared to EGP 12.2 bn by the end of December 2022, accounting for 35.47% of the total customer loans and facilities by the end of the first half of the current year.

Contributing to this growth, the bank's portfolio of personal loans increased by 12.86% and witnessed an increase of EGP 1.5 bn during the first half of the current year, bringing its total value to EGP 13.4 bn by the end of June 2023, compared to EGP 11.9 bn by the end of December 2022.

The size of the bank's credit card portfolio increased by 33.12%, with an increase of EGP 106.4 mn during the first half of the current year, moving from EGP 321.4 mn by the end of December 2022 to EGP 427.8 mn by the end of June 2023. The portfolio of overdraft accounts reached EGP 15.7 mn by the end of the same period.

It is worth noting that the total customer loan portfolio increased by a growth rate of 12.61% during the first half of the current year, surpassing EGP 39 bn by the end of June 2023, compared to EGP 34.7 bn by the end of December 2022, reflecting an increase of EGP 4.4 bn.