Corporate loans accounts for 76.6% of Emirates NBD's customer loans during Q1-2024
First Bank
The financial statements of Emirates NBD- Egypt, ending in March 31 2024, revealed that corporate loan portfolio of Emirates NBD increased with a growth rate of 8.36%, an increase of EGP 3.84 bn during the first quarter of the current year.
The total portfolio of corporate loans in the bank reached approximately EGP 49.82 bn by the end of March 2024, compared to EGP 45.98 bn by the end of December 2023, accounting for 76.56% of the total customer loans.
Direct loan portfolio of the bank increased with a growth rate of 34.79%, reaching EGP 19.97 bn by the end of March 2024, compared to EGP 13.33 bn by the end of December 2023, an increase of EGP 4.64 bn.
Additionally, the bank's Syndicated loans surged by 12.01% to record EGP 5.31bn by the end of March 2024 compared to EGP 4.74bn by the end of December 2023, with an increase of EGP 569mn.
Total loans and facilities for customers increased by 8.35%, reaching EGP 65.08 bn by the end of March 2024, compared to EGP 60.07 bn by the end of December 2023, an increase of EGP 5.01bn.
