ABK – Egypt achieves the fastest annual growth in its total customer loans in 5 years
Mai El-Kafoury
Al Ahli Bank of Kuwait - Egypt business results revealed that its total customer loans has risen by about 194.3% over the past five years, registering EGP 47 bn by the end of 2023, compared to EGP 16 bn by the end of 2018, with an increase of EGP 31 bn.
During the period under analysis, the highest annual growth rate and the largest value of the portfolio increased over the past year, with the Bank's total customer loans rising by 36%, reaching EGP 47 bn by the end of 2023, compared to EGP 34.7 bn by the end of 2022, with an increase of EGP 12.3 bn, recording the fastest annual growth in 5 years.
The second highest growth rate in total customer loans of the Bank was in 2022, where the portfolio rose by about 29% on an annual basis, to EGP 34.7 bn by the end of 2022, compared to EGP 26.8 bn by the end of 2021, with an increase of EGP 7.8 bn.
In terms of the directions of the loans portfolio of ABK - Egypt over the past 5 years, corporates control the total portfolio.
This percentage is relatively low during the period under analysis, reaching about 64.47% of the Bank's total loans by the end of 2023, compared to 70.09% by the end of 2018.
Retail loans dominated about 35.53% of the bank's total loans by the end of last year, compared to 29.91% by the end of 2018.
The Bank's corporate loans, including Corporate and Business Banking, jumped to EGP 30.3 bn by the end of 2023, compared to EGP 11.2 bn by the end of 2018, with growth of 171% and an increase of EGP 19.1 bn
ABK - Egypt's loans of the retail banking sector rose by 249.6% during the period under analysis, reaching EGP 16.7 bn by the end of 2023, compared to EGP 4.8 bn by the end of 2018, with an increase of EGP 11.9 bn.
