CIB: Corporate loans grow by 20% during 9M-2023, reaching EGP198 bn

Corporate loans grew by 20% during the first 9 monthes of 2023, reaching EGP198 bn, CIB high performance was driven by a 26.14% increase in the bank's current accounts portfolio, totaling EGP53.57 bn by the end of September 2023, compared to EGP42.47 bn at the end of the previous year.

The relative weight of the bank's current accounts portfolio in total corporate loans rose to 27.06% from January to September 2023, compared to 25.68% at the end of 2022. Total direct loans portfolio at the bank grew by 21.88%, reaching EGP95.10 bn by the end of September 2023, compared to EGP78.03 bn at the end of 2022.

Direct loans accounted for 48.03% of the total corporate loans portfolio at CIB during the first 9 months of 2023. Additionally, syndicated loans portfolio at the bank increased by 9.62% to EGP49.02 bn by the end of September 2023, compared to EGP44.72 bn at the end of 2022, constituting 24.76% of the total corporate loans at CIB. It's worth mentioning that total customer loans at the bank increased by 16.41%, reaching EGP254.5 bn by the end of September 2023, compared to EGP218.6 bm at the end of December 2022, marking an increase of approximately EGP35.9 bn during the period from January to September of the current year.