ADCB Egypt's retail loans grow by 13.1%, reaching EGP 9.4 bn during Q1-2024

The financial statements of ADCB-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 13.10% during Q1- 2024, amounting to an increase of EGP1.09 bn.

The size of the bank's portfolio of retail loans reached EGP 9.37 bn by the end of March 2024, compared to EGP 8.28 bn by the end of December 2023.

Contributing to this growth, the size of the bank's credit cards increased by 28%, with an increase of EGP 78 mn during the first 3 months of 2024, moving from EGP 278 mn by the end of December 2023, to reach EGP 356mn by the end of March 2024.

ADCB Egypt's personal loans rose by 13% and witnessed an increase of EGP 1.01 bn during the first quarter of this year to record EGP8.81bn by the end of March 2024, compared to EGP7.80bn by the end of December 2023.

The size of the debit current account portfolio reaching EGP 34 mn by the end of March 2024, while the bank's portfolio of Mortgage loans recorded EGP 169 mn during the same period.

It is worth noting that the total customer loan portfolio rose by 14.05% and an increase of EGP 5.31 bn during the first quarter of the current year, reaching EGP43.10bn by the end of March 2024, compared to EGP37.79bn by the end of December 2023.