ABK - Egypt Corporate Loans Grow by 26.3%, Reaching EGP 28.3 Bn by September 2023 end

The separate financial statements of Al Ahli Bank of Kuwait - Egypt, ending on last September 30, have revealed a growth rate of 26.3% in the portfolio of corporate loans, achieving an increase of EGP 5.9 bn during the first 9M of 2023.

Total portfolio of corporate loans in the bank reached around EGP 28.32 bn by the end of September 2023, compared to EGP 22.42 bn by the end of December 2022. This represents 65.43% of the total customer loan portfolio.

Total portfolio of direct loans increased by a growth rate of 29.11%, with an increase of EGP 4.15 bn during the first 9M of last year, reaching EGP 18.39 bn by the end of September 2023, compared to EGP 14.24 bn by the end of December 2022.

Debit current accounts portfolio in the bank experienced a growth of 27.20%, with an increase of EGP 1.75 bn during the first 9M of the last year, reaching a value of EGP 8.18 bn by the end of September 2023, compared to EGP 6.43 bn by the end of December 2022.

Syndicated loan portfolio witnessed a growth rate of 1.71% with an increase of EGP 28 mn during the first 9M 2023, recording around EGP 1.68 bn by the end of September 2023, compared to EGP 1.65 bn by the end of December 2022. Meanwhile, the other loans portfolio recorded EGP 76 mn by the end of the same period.

It is worth noting that Bank’s total customer loan portfolio increased by 24.93%, with an increase of EGP 8.64 bn during the first 9M of the last year, reaching EGP 43.29 bn by the end of September 2023, compared to EGP 34.65 bn by the end of December 2022.