ADCB Egypt Corporate loans soar by 13.2%, recording EGP26.6 bn by September- 2023 end

The financial statements of Abu Dhabi Commercial Bank - Egypt, ending in September 2023, revealed a total increase in corporate and small to medium-sized project loans by 13.23%, amounting to EGP 3.1 bn in the first 9 months of the current year.

The total portfolio of corporate loans in the bank reached approximately EGP26.57 bn by the end of September 2023, compared to around EGP23.46 bn by the end of December 2022, accounting for 77.05% of the total loan portfolio for the bank's clients.

Additionally, direct loan portfolio of the bank increased by 26.76%, reaching about EGP17.66 bn by the end of September 2023, compared to EGP13.93 bm by the end of December 2022, indicating an increase of about EGP 3.73 bn.

Furthermore, syndicated loan portfolio of the bank increased by 10.43% with an increase of EGP177 mn during the first 9 months of the current year, reaching approximately EGP 1.88 bn by the end of September 2023, compared to EGP 1.70 bn by the end of December 2022.

Total loans and facilities for customers increased by 9.79%, reaching EGP34.48 bn by the end of September 2023, compared to EGP31.40 bn by the end of December 2022.