ADCB Egypt customer loans soar by 20%, reaching EGP 37.79 bn by end of 2023
First Bank
The separate financial statement of ADCB Egypt ending on December 31, 2023, revealed an increase in Total customer loans by 20.34% during the last year, to record EGP37.790 bn at the end of December 2023, compared to EGP31.404bn at the end of December 2022, an increase of EGP 6.386 bn.
This growth was contributed by the increase in the total portfolio of the bank’s corporate loans to reach EGP 29.510 bn at the end of 2023, compared to EGP 23.46 bn at the end of December 2022, to grow at a rate of 25.78%, and an increase of EGP 6.048 bn.
On the retail banking level, the volume of the bank’s retail loans portfolio increased by a growth rate o 4.26% and an increase of EGP 338.16 bn during the last year, to reach EGP8.280bn at the end of December 2023, compared to EGP 7.942 bn at the end of December 2022.
In general, ADCB Egypt achieved a good performance during the last year, as its net profits increased by a growth rate of 92.18%, to record EGP 2.047 bn during 2023, compared to EGP1.065 bn during 2022, an increase of EGP 981.922 mn.
The bank was able to increase the total portfolio of the bank’s customers’ deposits by EGP 11.14 bn to grow by a rate of 14.76% during the last year, to record EGP 86.635 bn at the end of 2023, compared to EGP 75.492 bn at the end of December 2022.
The bank’s total assets also increased by a growth rate of 13.80% and an increase of EGP11.89bn during the last year, to record EGP 98.06 bn at the end of 2023, compared to EGP86.170 bn at the end of December 2022.
