ADCB Egypt's retail deposits grow by 19% during Q1-2024, recording EGP 17 bn

The separate financial statements of ADCB - Egypt, which ended March 31, revealed a growth rate of 19.02% in the retail deposit portfolio and an increase of EGP 2.72 bn during the first quarter of this year, recording EGP 17.03 bn by the end of March 2024, compared to EGP14.31 bn by the end of December 2023.

Corporate deposit portfolio rose by 5.67%, with an increase of EGP 4 bn during the first 3M of this year, after registering EGP 76.42 bn by the end of March 2024, compared to 72.32 bn by the end of December 2023.

The Bank's total customer deposit portfolio rose by 7.88% and increased by EGP 6.82 bn in the first quarter of this year, moving from EGP 86.64 bn by the end of December 2023, to EGP 93.46 bn by the end of March 2024.

Time deposits portfolio increased by 8.18% and an increase of EGP 4.54bn during Q1 of this year, reaching EGP 60.06 bn by the end of March 2024, compared to EGP 55.52 bn by the end of December 2023.

The demand deposits portfolio rose by 7% in the first quarter of this year, registering EGP 21.02 bn by the end of March 2024 compared to EGP 19.64 bn by the end of December 2023.

As for the bank's certificates of savings and deposit portfolio, it rose by EGP 920 mn and a growth rate of 9.74% during the first quarter of this year, reaching EGP 10.36 bn by the end of March 2024, compared to EGP 9.44 bn by the end of December 2023.