ABK-Egypt Corporate deposits acquire 74.34%, recording EGP 53.1 bn by June-2023 end
First Bank
In the latest financial disclosures of Ahli Bank Kuwaiti - Egypt's, ending on June 30th, 2023, corporate deposits portfolio have taken hold of 74.34% share of the total deposit portfolio. This reflects a significant expansion in corporate deposit ownership during the first half of 2023.
Total corporate deposit portfolio within the bank experienced a growth rate of 7.11% during the first half of the current year, reaching EGP53.1 bn by the end of June 2023. This marks an increase from EGP49.6 bn recorded at the close of December 2022.
Total retail deposit portfolio surged by 10.33% growth during the first half of the current year. This growth propelled retail deposits from EGP16.6 bn at the close of December 2022 to EGP 18.3 bn by the end of June 2023, constituting 25.66% of the bank's deposit portfolio.
The escalation in the overall customer deposit portfolio can be attributed to EGP 3.5 bn surge in corporate deposits during the first half of 2023. Additionally, retail deposits increased by EGP1.7 bn during the same period.
Demand deposit portfolio expanded significantly, witnessing a growth rate of 13.71% with an increase of EGP3.9 bn during the first half of the current year. This resulted in a total of around EGP32.2 bn by the end of June 2023, up from EGP28.3 bn at the close of December 2022.
Moreover, savings and Deposit Certificates portfolio grew by 6.70% during the first half of the current year, rising from EGP 11.5 bn at the end of December 2022 to EGP12.2 bn at the end of June 2023. This marked an increase of EGP768 mn.
Savings Deposits portfolio also experienced growth, rising by 6.44% during the first half of the current year to reach EGP2.5 bn at the end of June 2023, compared to EGP2.4 bn at the end of December 2022. Furthermore, other deposits portfolio witnessed a remarkable growth rate of 153.6% during the same period.
It is worth noting that the total customer deposit portfolio of the bank exhibited a growth rate of 7.92%, reflecting an increase of EGP5.2 bn during the first half of the current year. This growth elevated the total value to EGP71.4 bn by the end of June 2023, up from EGP 66.2 bn recorded at the end of December 2022.
