ABK-Egypt's Retail Loans Grow by 22.4% During 9M-2023, Reaching EGP 14.97 bn
First Bank
The separate financial statements of Ahli Bank of Kuwait - Egypt, ABK-Egypt, for the period ending on September 30th of the current year, have revealed a growth in the bank's portfolio of retail loans by a rate of 22.4% during the first 9 months of 2023, amounting to an increase of EGP 2.74 bn.
The size of the bank's portfolio of Retail loans reached EGP 14.97 bn by the end of September 2023, compared to EGP 12.23 bn by the end of December 2022, accounting for 34.57% of the total customer loans and facilities by September 2023 End.
Contributing to this growth, the bank's portfolio of personal loans increased by 21.6% and witnessed an increase of EGP 2.56 bn during the first 9M of the current year, bringing its total value to EGP 14.44 bn by the end of September 2023, compared to EGP 11.9 bn by the end of December 2022.
The size of the bank's credit card portfolio increased by 52.8%, with an increase of EGP 169.5 mn during the first 9M of the current year, moving from EGP 321.4 mn by the end of December 2022 to EGP 490.9 mn by the end of September 2023.
It is worth noting that the total customer loan portfolio increased by a growth rate of 24.93% during the first 9M of the current year, surpassing EGP 43.29 bn by the end of September 2023, compared to EGP 34.7 bn by the end of December 2022, reflecting an increase of EGP 8.64 bn.
