EBank supports the private sector, rising its loans to EGP 41.4 bn by the end of 2023

Export Development Bank of Egypt has been able to strengthen its private sector loans over the past year because of the sector's importance in enhancing economic growth and providing more jobs in markets.

The figures were an evidence of success, with EBank private sector loans jumping by 18.04% over the past year, registering EGP 41.4 bn by the end of December 2023, compared to EGP 34.53 bn by the end of 2022, with an increase of EGP 6.2 bn.

This growth was driven mainly by a rise in private sector debit current account balances over the past year, growing at a rate of 23.1% and an increase of about EGP 5.21 bn, moving from EGP 22.6 bn by the end of December 2022, to EGP 27.79 bn by the end of December 2023.

The relative weight of debit current account balances increased with a share of 68.19% of the Bank’s total private sector loans by the end of December last year, compared to a relative weight of 65.51% by the end of December 2022.

The Bank's direct loans portfolio for the private sector rose by EGP 785 mn to grow by 9.2% over the past year, reaching EGP 9.33 bn by the end of 2023, compared to EGP 8.55 bn by the end of December 2022.

The Bank's private sector direct loans portfolio accounted for about 22.90% of its total loans for this sector by the end of last year.

As for EBank's private sector syndicated loans, it saw 7% growth in 2023, moving its portfolio from EGP 3.3 bn by the end of December 2022, to EGP 3.6 bn by the end of last year, with an increase of EGP 235 mn. The Bank's private sector syndicated loans accounted for about 9% of its total private sector loans by December 2023.

The relative weight of private sector loans increased marginally to 86.9% of EBank's total corporate loans by the end of last year, compared to 85.7% of the bank's total corporate loans by the end of December 2023.

The bank's total corporate loans rose by EGP 6.62 bn, growing by 16.44% over the past year, registering EGP 46.90 bn by the end of December 2023, compared to EGP 40.3 bn by the end of 2022.

The bank's total customer loans rose to EGP 54.62 bn by the end of December 2023, compared to 44.8 bn by the end of 2022, with a growth rate of 21.9%, and an increase of EGP 9.80 bn.

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