Abu Dhabi Islamic Bank-Egypt’s total loans rose to 240.7% in 5 years

The combined financial statements of the Abu Dhabi Islamic Bank - Egypt revealed that its total customer loans (net of deferred profit) has risen by 240.7% over the past five years, to EGP 85.6 bn by the end of March 2024, compared to EGP 25.1 bn by the end of 2018, with an increase of EGP 60.5 bn.

During the period under analysis, the highest annual growth rate of the portfolio was in 2020, with the Bank's total customer loans rising by 29.5%, reaching EGP 41.8 bn by the end of the year, compared to EGP 32.3 bn by the end of 2019, with an estimated increase of EGP 9.5 bn.

While the largest increase was achieved by the portfolio in 2022 as the growth of total loans increased by EGP 12.3 bn, to EGP 59.4 bn by the end of the year, compared to EGP 47 bn by the end of 2021, with a growth of 26% on an annual basis.

As for the growth of the bank's total customer loans during the current year, it rose by about 27%, up to EGP 85.6 bn by the end of March 2024, up from EGP 67.4 bn by the end of 2023, with an increase of EGP 18.2 bn.

In terms of the trends of the loan portfolio of the Bank over the past 5 years, corporates control the total portfolio.

This percentage is seen to rise during the period under analysis, rising to about 75.77% of the Bank's total loans by the end of Q1-2024, compared to 72.33% by the end of 2018.

Retail loans dominated 24.23% of the bank's total loans by the end of March, compared to 27.67% by the end of 2018.

The Bank's corporate loans, including corporate and business banking, jumped to EGP 64.9 bn by the end of March 2024, compared to EGP 18.2 bn by the end of 2018, with growth of 256.9% and an increase of EGP 46.7 bn.

Abu Dhabi Islamic Bank – Egypt’s Retail banking sector loans increased to EGP 20.7 bn by the end of Q1-2024, compared to EGP 7 bn by the end of 2018, with growth of EGP 198 .3% and an increase of EGP 13.8 bn.

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