alBaraka corporate finance grows by 16.2%, reaching EGP 36.1bn during 2023
First Bank
The financial statements of alBarak Bank, ending on December 31th, 2023, revealed that corporate loan portfolio of alBaraka increased with a growth rate of 16.23%, an increase of EGP5.04bn during the last year.
corporate finance reaching EGP 36.07bn by the end of December 2023 Compared to EGP 31.03bn by the end of December 2022.
The Bank's direct financing jumped by 21.70% to record EGP 31.54bn by the end of December 2023 compared to EGP 25.92 bn by the end of December 2022, an increase of EGP 5.62 bn.
Syndicated loan portfolio reaching around EGP 4.53 bn by the end of 2023, compared to EGP 5.12bn by the end of December 2022.
It is worth noting that the bank’s total customer finance portfolio increased by 23.45%, with an increase of EGP 8.29 bn during the last year, reaching EGP 43.65 bn by the end of December 2023, compared to EGP 35.35 bn by the end of December 2022.
