alBaraka's corporate loans rose by 10.4% during Q1-2024, recording EGP 39.9 bn

alBaraka Bank's separate financial statements ended March 31 revealed that the bank's corporate loans portfolio rose by 10.43% and an increase of EGP 3.77 bn during the first quarter of this year, reaching EGP 39.92 bn by the end of March 2024, compared to EGP 36.15 bn by the end of December 2023.

The bank's total syndicated loans portfolio jumped by 25.53% and an increase of EGP 1.16 bn during the first quarter of this year, registering about EGP 5.68 bn by the end of March 2024, compared to 4.53 bn by the end of December 2023.

The bank's total direct loans portfolio was EGP 34.23 bn by the end of March 2024, compared to EGP 31.62 bn by the end of December 2023, to grow by 8.27% and achieve an increase of EGP 2.62 bn during the first quarter of this year.

It is worth mentioning that the total customer loans and facilities at the bank recorded about EGP 49.11 bn by the end of March 2024, compared to 43.73 bn by the end of December 2023, to grow by 12.31% and achieve an increase of EGP 5.38 bn during the first quarter of this year.