Services sector is the highest recipient of Emirates NBD's loans by the end of March, 2024

Emirates NBD's customer loans grew significantly during the first quarter of this year, jumping by 8.4%, reaching 65.1 billion pounds by the end of March 2024, compared to 60.1 billion pounds by the end of 2023, with an increase of over 5 billion pounds.

With regard to the distribution of total customer loans to the sectors, Emirates NBD has strengthened its support to the services sector, as evidenced by the rise in its share of total customer loans to 36.53% by the end of March 2024, as compared to 35.97% by the end of 2023, leading the Bank's credit preferences list.

The industry sector ranked second for the Bank's preferences for granting loans, with a relative weight of 30.65% of the Bank's total customer loans by the end of March 2024, compared to 30.19% by the end of 2023.

The family sector ranked third, despite its relatively stable weight, accounting for 23.44% of the Bank's total customer loans by the end of 2023, compared to 23.45% by the end of 2022. The commercial sector came fourth in terms of the bank's credit preferences, with a relative weight of 9.18% of the total loans of customers by the end of March 2024, compared to 8.57% by the end of 2023.

The fifth and final position was in the agricultural sector, accounting for 0.19% of the Bank's total loans to customers by the end of March 2024, compared to 0.16% by the end of 2023.

Emirates NBD-Egypt loans for all sectors saw remarkable growth during the first quarter of last year, with its loans to the service sector jumping by about 10%, to 23.8 billion pounds by the end of March 2024, compared to 21.6 billion pounds by the end of 2023, with an increase of 2.2 billion pounds. The Bank's loans for the industrial sector rose by 821.5 million pounds, until it gets close to 20 billion pounds by the end of March 2024, compared to 19.1 billion pounds by the end of 2023.

The Bank's loans to the family sector jumped from 14.1 billion pounds by the end of 2023, to 15.3 billion pounds by the end of the first quarter of 2024, with a growth rate of 8.30% and an increase of 1.2 billion pounds.

The Bank's loans for the trade sector was 5.98 billion pounds by the end of March, compared to 5.1 billion pounds by the end of 2023, with a growth rate of 16.14% and an increase of 830.8 million pounds. The Bank's loans for the agriculture sector rose by 28.38%, to 125.2 million pounds by the end of March 2024, compared to EGP 97.5 mn by the end of March.