Emirates NBD's retail loans grow by 8.3%, reaching EGP 15 bn during Q1-2024

The financial statements of Emirates NBD-Egypt, for the period ending on March 31 of the current year, have revealed a growth in the bank's portfolio of retail loans by a rate of 8.31% during Q1- 2024, amounting to an increase of EGP1.17 bn.

The size of the bank's portfolio of retail loans reached EGP 15.26 bn by the end of March 2024, compared to EGP 14.09 bn by the end of December 2023.

Contributing to this growth, Emirates NBD's personal loans rose by 9.02% and witnessed an increase of EGP 1.07 bn during the first quarter of this year to record EGP 12.87bn by the end of March 2024, compared to EGP 11.81bn by the end of December 2023.

The size of the bank's credit cards increased by 5.26%, with an increase of EGP 50 mn during the first 3 months of 2024, moving from EGP 943.8 mn by the end of December 2023, to reach EGP 993.5mn by the end of March 2024.

In addition, the bank's portfolio of Mortgage loans surged by 4.11% with an increase of EGP 55 mn during the first quarter of the current year, to record EGP 1.39 bn by the end of March 2024, compared to EGP 1.34 bn by the end of December 2023.

It is worth noting that the total customer loan portfolio rose by 8.35% and an increase of EGP 5 bn during the first quarter of the current year, reaching EGP 65.08bn by the end of March 2024, compared to EGP 60.07bn by the end of December 2023.