ADCB Egypt corporate loans grow by 14.31%, reaching EGP 33.7bn during Q1-2024
The financial statements of ADCB Egypt, ending in March 31 2024, revealed that corporate loan portfolio of the bank increased with a growth rate of 14.31%, an increase of EGP 4.22 bn during the first quarter of the current year.
The total portfolio of corporate loans in the bank reached approximately EGP33.73 bn by the end of March 2024, compared to EGP 29.51 bn by the end of December 2023.
The bank's syndicated loans jumped by 63.41% to record EGP 3.08bn by the end of March 2024 compared to EGP 1.88bn by the end of December 2023, with an increase of EGP1.19bn.
Additionally, direct loan portfolio of the bank increased with a growth rate of 17.37%, reaching EGP 23.23 bn by the end of March 2024, compared to EGP 19.79 bn by the end of December 2023, an increase of EGP 3.44 bn, debit current accounts portfolio in the bank recorded EGP7.41bn by the end of March 2024.
Total loans and facilities for customers increased by 14.05%, reaching EGP 43.10 bn by the end of March 2024, compared to EGP 37.79 bn by the end of December 2023, an increase of EGP5.31bn.
