alBaraka’s total customer loans rose by 170% since 2018

alBaraka Bank's customer loans has seen remarkable growth over the past five years, jumping by 170%, reaching EGP 49.1 bn by the end of March 2024, compared to EGP 18.2 bn by the end of 2018, with an increase of EGP 30.9 bn.

During the period under analysis, the highest annual growth rate and the largest value of the portfolio increased in 2022, with the Bank's total customer loans rising to EGP 35.4 bn by the end of the year, compared to EGP 24.3 bn by the end of 2021, with an increase of EGP 11.1 bn, and a growth rate of 45.84% on an annual basis, leading the First Bank list of the fastest growing listed banks in total customer loans in 2022.

The second-highest growth rate in the Bank’s total Customer loans was last year, with its portfolio rising by 23.36%, to EGP 43.6 bn by the end of 2023, compared to EGP 35.4 bn by the end of 2022, leading the First Bank list of the fastest growing listed banks in total customer loans for the second consecutive year.

In terms of portfolio performance this year, it jumped by 12.31%, to EGP 49.1 bn by the end of March 2024, up from EGP 43.7 bn by the end of 2023, with an increase of EGP 5.4 bn.

In terms of loans portfolio trends at the Bank over the past 5 years, corporates control the total portfolio. This percentage is noteworthy for its relative decline during the period under analysis, reaching about 81.29% of the bank's total loans by the end of March 2024, compared to 90.76% by the end of 2018.

Retail loans dominated about 18.71% of the bank's total loans by the end of March 2024, compared to 9.24% by the end of 2018.

The Bank's corporate loans jumped to EGP 39.9 bn by the end of March 2024, compared to EGP 16.5 bn by the end of 2018, with growth of 142% and an increase of EGP 23.4 bn.

alBaraka Bank's loans for the retail banking sector rose by 447.4%, reaching EGP 9.2 bn by the end of March 2023, compared to EGP 1.7 bn by the end of 2018.

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