EGBANK Tops listed banks in focusing on personal loans finance during H1-2023

Egyptian Gulf Bank-EGBANK continued its growing interest in personal loans finance, as personal loans obtained 25.90% of the bank’s total loans portfolio, topping First Bank list in focusing on personal loans by June-2023end.

EGBANK manages a large personal loans finance portfolio, reached EGP 8.32 bn at the end of June 2023, compared to EGP 8.01 bn at the end of 2022, achieving a growth rate of 3.89%, and an increase of EGP 312.05 mn.

Total loans portfolio reached EGP 32.14 bn by end of H1-2023, compared to EGP 28.45 bn by the end of 2022, with a growth rate of 13%, and an increase of EGP 3.7 bn.

In addition, EGBANK's retail finance portfolio jumped by 3.68%, to reach EGP 8.86 bn at the end of June 2023, compared to EGP 8.54 bn at the end of 2022, an increase of EGP 314.31 bn.

While, Corporate finance portfolio also jumped from EGP 19.90 bn at the end of 2022 to EGP 23.29bn By June-2023end, with a growth rate of 17%, an increase of EGP 3.38 bn.

The bank achieved a good performance during the current year, as its net profit increased by 60.44%, recording EGP656.95 mn during the first half of 2023, compared to EGP409.47 mn during the same period of 2022, an increase of EGP247.48 mn.

The bank's asset portfolio grew by 20.03%, reaching EGP 104.1 bn by June-2023end, compared to EGP 86.7 bn by the end of 2022, an increase of EGP 17.4 bn

Deposit portfolio increased by 9.55%, to reach EGP 78.6 bn by the end of June 2023, compared to EGP 71.7 bn by the end of 2021, an increase of EGP 6.9 bn.