CIB corporate loans Grow by 24%, Reaching EGP 205 Bn by end of 2023
First Bank
The separate financial statements of Commercial International Bank-CIB, ending on last December 31, have revealed a growth rate of 24.01% in the portfolio of corporate loans, achieving an increase of EGP 39.69 bn during the last Year.
Total portfolio of corporate loans in the bank reached around EGP 205.039 bn by the end of December 2023, compared to EGP 165.346 bn by the end of December 2022. This represents 77.34% of the total customer loan portfolio.
Debit current accounts portfolio in the bank experienced a growth of 29.09%, with an increase of EGP 12.356 bn during the last year, reaching a value of EGP 54.82bn by the end of December 2023, compared to EGP 42.46 bn by the end of December 2022.
Total portfolio of direct loans increased by a growth rate of 26.19%, with an increase of EGP 20.439 bn during the last year, reaching EGP 98.469 bn by the end of December 2023, compared to EGP 78.030 bn by the end of December 2022.
Syndicated loan portfolio witnessed a growth rate of 14.73% with an increase of EGP 6.58bn during 2023, recording around EGP 51.312 bn by the end of 2023, compared to EGP 44.723bn by the end of December 2022.
It is worth noting that Bank’s total customer loan portfolio increased by 21.26%, with an increase of EGP 46.471 bn during the last year, reaching EGP 265.104 bn by the end of December 2023, compared to EGP 218.633 bn by the end of December 2022.
