Corporates at alBaraka bank acquire 83.1% of Total Financing, recording EGP 34 bn by Sep-2023
First Bank
The separate financial statements of alBaraka Bank - Egypt, ending on September 30th 2023, reveled that Total corporate Financing accounting for 83.1% of the total Financing portfolio during the first 9M - 2023.
The total portfolio of corporate loans in the bank incresed By 9.6%, to record approximately EGP 34.02 bn by the end of September 2023, compared to EGP31.03bn by the end of December 2022, an increase of EGP 3 bn.
Additionally, direct loan portfolio of the bank increased by 13.1%, reaching about EGP 29.31 bn by the end of September 2023, compared to EGP 25.92 bn by the end of December 2022, an increase of EGP 3.39bn.
Furthermore, syndicated loan portfolio of the bank recorded about EGP 4.72 bn by the end of September 2023.
Total Financing and facilities for customers increased by 15.8%, an increase of EGP5.59bn, reaching EGP 40.94 bn by the end of September 2023, compared to EGP 35.35 bn by the end of December 2022.
