ABK - Egypt Corporate Loans Grow by 12.3%, Reaching EGP 25.2 Bn by June 2023 end
First Bank
The separate financial statements of Al Ahli Bank of Kuwait - Egypt, ending on June 30, 2023, have revealed a growth rate of 12.3% in the portfolio of corporate loans, achieving an increase of EGP 2.8 bn during the first half of 2023.
Total portfolio of corporate loans in the bank reached around EGP 25.2 bn by the end of June 2023, compared to EGP 22.4 bn by the end of December 2022. This represents 64.53% of the total customer loan portfolio.
Total portfolio of direct loans increased by a growth rate of 14% during the first half of the current year, reaching EGP 16.2 bn by the end of June 2023, compared to EGP 14.2 bn by the end of December 2022, marking an increase of EGP 2 bn.
Syndicated loan portfolio witnessed a growth rate of 4.96% during the first half of the current year, recording around EGP 1.73 bn by the end of June 2023, compared to EGP 1.65 bn by the end of December 2022.
Debit current accounts portfolio in the bank experienced a growth of 10.6%, with an increase of EGP 683 mn during the first half of the current year, reaching a value of EGP 7.1 bn by the end of June 2023, compared to EGP 6.4 bn by the end of December 2022. Meanwhile, the other loans portfolio recorded EGP 98.8 mn by the end of the same period.
It is worth noting that ABK - Egypt increased credit issuance to its customers by EGP 4.4 bn after the total customer loan portfolio grew by 12.61% during the first half of the current year, exceeding EGP 39 bn by the end of June 2023, compared to EGP 34.7 bn by the end of December 2022.
