ADCB Egypt Corporate Loans Grow by 26%, Reaching EGP 29.5 Bn by end of 2023
First Bank
The separate financial statements of ADCB Egypt, ending on last December 31, have revealed a growth rate of 25.78% in the portfolio of corporate loans, achieving an increase of EGP 6.5 bn during 2023.
Total portfolio of corporate loans in the bank reached around EGP 29.51 bn by the end of December 2023, compared to EGP 26.46 bn by the end of December 2022. This represents 78.09% of the total customer loan portfolio.
Total portfolio of direct loans increased by a growth rate of 42.05%, with an increase of EGP 5.86 bn during the last year, reaching EGP 19.79 bn by the end of December 2023, compared to EGP 13.39 bn by the end of December 2022.
Debit current accounts portfolio in the bank experienced a growth of 4.07%, with an increase of EGP 299 mn during the last year, reaching a value of EGP 7.65 bn by the end of December 2023, compared to EGP 7.35 bn by the end of December 2022.
Syndicated loan portfolio witnessed a growth rate of 10.90% with an increase of EGP 185 mn during 2023, recording around EGP 1.88 bn by the end of 2023, compared to EGP 1.70 bn by the end of December 2022.
It is worth noting that Bank’s total customer loan portfolio increased by 20.34%, with an increase of EGP 6.39bn during the last year, reaching EGP 37.79 bn by the end of 2023, compared to EGP 31.40 bn by the end of December 2022.
