Services sector is the most receiving for Emirates NBD’s customer loans by the end of 2023
Mai El-Kafoury
Emirates NBD customer loans grew significantly over the past year, jumping by 29.44%, reaching EGP 60.1 bn by the end of 2023, compared to EGP 46.4 bn by the end of 2022, with an increase of EGP 13.7 bn.
With regard to the distribution of total customer loans to the sectors, Emirates NBD has strengthened its support to the services sector, as evidenced by the rise in its share of total customer loans to 35.97% by the end of 2023, compared to 32.20% by the end of 2022, leading the Bank's preferences for granting loans list.
The industry sector ranked second for the Bank's preferences for granting loans, which was shown in its acquisition of 31.84% of the Bank’s total customer loans by the end of 2023, compared to 30.19% by the end of 2022.
The family sector took third position, despite a decline in its share, accounting for 23.45% of the bank's total customer loans by the end of 2023, compared to 26.93% by the end of 2022.
The commercial sector came fourth in terms of the bank's granting loans preferences, with a relative weight of 8.57% of total customer loans by the end of 2023, compared to 10.58% by the end of 2022.
The fifth and final position was for the agricultural sector, accounting for 0.16% of the Bank's total customer loans by the end of 2023, compared to 0.11% by the end of 2022. Emirates NBD-Egypt loans for all sectors saw remarkable growth over the past year. Its loans to the service sector jumped by EGP 6.7 bn, reaching EGP 21.6 bn by the end of 2023, compared to EGP 14.9 bn by the end of 2022, with a growth of 44.64% on an annual basis.
The Bank's loans for the agriculture sector rose by 95.24% over the past year, recording EGP 97.5 mn by the end of 2023, compared to EGP 49.93 mn by the end of 2022, with an increase of EGP 47.6 mn.
Its loans for industry rose by 36.53%, with an increase of EGP 5.1 bn over the past year, to reach EGP 19.1 bn by the end of 2023, compared to EGP 14 bn by the end of 2022.
Emirates NBD-Egypt's loans to the family sector jumped by 12.74%, registering EGP 14.1 bn by the end of 2023, compared to EGP 12.5 bn by the end of 2022, with an increase of EGP 1.6 bn.
The Bank's loans for the commercial sector was EGP 5.1 bn by the end of 2023, compared to EGP 4.9 bn by the end of 2022, with growth of 4.82% and an increase of EGP 236.9 mn.
