aiBank's industrial activity financing increased by 22.83% during H1-2023

 aiBank witnessed a significant improvement in its financing for industrial activity this year, with loans for this sector jumping by approximately 22.83% to reach EGP 7.93 bn by the end of June 2023, compared to EGP 6.46 bn at the end of 2022, representing an increase of EGP 1.47 bn.

In light of this notable growth, First Bank observes the development of  aiBank's financing for industrial activity through various bank products during the first half of 2023.

The bank expanded its direct financing for industrial activity significantly, with financing reaching EGP 7.42 bn by the end of June 2023, compared to EGP 5.99 bn at the end of 2022, with a growth rate of 23.89% and an increase of EGP 1.31 bn.

Direct loans from aiBank to industrial enterprises accounted for approximately 93.51% of the bank's total financing for industrial activity by the end of the first half of the current year.

As for the bank's syndicated financing for industrial activity, it increased from EGP 291.24 mn at the end of 2022 to EGP 317.56 mn by the end of June 2023, with a semi-annual growth rate of 9.04% and an increase of EGP 26.32 mn.

Syndicated loans for this activity at aiBank represented 4% of the bank's total financing for industrial activity by the end of the first half of 2023.

Regarding the current debit account balances for industrial activity, they increased by about 9.92% to reach EGP 197.24 mn by the end of June 2023, compared to EGP 179.44 mn at the end of 2022, with an increase of EGP 17.80 mn.

Current debit account balances for industrial activity represented the smallest share of the bank's total financing for this activity, amounting to 2.49% by the end of June 2023.

aiBank's financing for industrial activities through its various products contributed to approximately 45.62% of its total loan portfolio by the end of June 2023.

The bank's financing for enterprises increased from EGP 15.51 bn at the end of the first half of 2023 to EGP 17.39 bn by the end of June 2023, with a growth rate of 12.10% and an increase of EGP 1.88 bn.

aiBank's loans to industrial enterprises through the bank's various products accounted for 33.92% of the bank's total customer loans, which increased by approximately 12.14% to reach EGP 23.39 bn by the end of the first half of 2023, compared to EGP 20.86 bn at the end of 2022, with an increase of EGP 2.53 bn.

Know more about aiBank, click here.