alBaraka’s total customer loans rise to 140% since 2018
Mai El-Kafoury
alBaraka Bank's Customer loans has seen remarkable growth over the past five years, jumping by 140.15%, to EGP 43.6 bn by the end of 2023, compared to EGP 18.2 bn by the end of 2018, with an increase of EGP 25.5 bn.
During the period under analysis, the highest annual growth rate and the largest value of the portfolio increased in 2022, with the Bank's total Customer loans rising to EGP 35.4 bn by the end of the year, compared to EGP 24.3 bn by the end of 2021, with an increase of EGP 11.1 bn With a growth rate of 45.84% year-on-year, topping the First Bank list of the fastest growing listed banks in total customer loans in 2022.
The second-highest growth rate in total Customer loans of the Bank was last year, with its portfolio rising by 23.36%, to EGP 43.6 bn by the end of 2023, compared to EGP 35.4 bn by the end of 2022, leading the First Bank list of the fastest growing listed banks in total customer loans for the second consecutive year.
Regarding the directions of alBaraka Bank's loan portfolio over the past 5 years, corporates control the total portfolio
This percentage is relatively low during the period under analysis, reaching about 82.64% of the Bank's total loans by the end of 2023, compared to 90.76% by the end of 2018.
Retail loans dominated about 17.36% of the bank's total loans by the end of last year, compared to 9.24% by the end of 2018.
The Bank's corporate loans, including Corporate and Business Banking, jumped to EGP 36 bn by the end of 2023, compared to EGP 16.5 bn by the end of 2018, with growth of 118.66% and an increase of EGP 19.6 bn.
alBaraka Bank's loans of the retail banking sector rose by 351.24% during the period under analysis, reaching EGP 7.6 bn by the end of 2023, compared to EGP 1.7 bn by the end of 2018, with an estimated increase of EGP 5.9 bn.
