EBank’s corporate sector achieves significant growth during Q1-2024

Export Development Bank of Egypt (EBank) corporate sector experienced strong growth during Q1 of this year, reflected in the Bank's strong figures and the significant growth in its indicators EBank increased its corporate loans in Q1 of this year, pushing the portfolio of corporate loans to grow by 16.3%, reaching EGP 54.5 bn by the end of March 2024, compared to EGP 46.9 bn by the end of 2023, with an increase of EGP 7.6 bn.

This strong performance was driven mainly by the growth of debit current accounts balance of corporates, rising by 17.72%, and achieving an increase of EGP 5.2 bn during Q1 of this year, reaching EGP 34.8 bn by the end of March, compared to EGP 29.6 bn by the end of 2023.

Direct loans portfolio also rose to EGP 10.7 bn by the end of March, compared to EGP 9.8 bn by the end of 2023, with a growth of 8.6% on a quarterly basis.

The bank's syndicated loans portfolio jumped by 20.6% during the first 3M of this year, registering EGP 9.1 bn by the end of March 2024, compared to EGP 7.5 bn by the end of 2023, with an increase of EGP 1.6 bn.

EBank's corporate sector contributed about 86.1% to the bank's total loans portfolio, which jumped to EGP 63.4 bn by the end of March 2024, up from EGP 54.6 bn by the end of 2023, with an increase of EGP 8.8 bn.

The bank's corporate deposits portfolio rose from EGP 73.7 bn by the end of 2023, to EGP 90.6 bn by the end of March 2024, with a growth of 22.8% and an increase of EGP 16.8 bn.

The corporate sector accounted for 83.94% of the Bank's total deposit portfolio, after EBank's deposit portfolio rose to EGP 107.9 bn by the end of Q1 of this year, compared to EGP 86.9 bn by the end of 2023, with an increase of EGP 21 bn.

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