ABK - Egypt Corporate loans Grow by 24%, reaching EGP 37.5 Bn by March-2024 end
First Bank
The separate financial statements of Al Ahli Bank of Kuwait - Egypt, ending on last March 31, have revealed a growth rate of 24% in the portfolio of corporate loans, achieving an increase of EGP 7.2bn during the first quarter the current year.
Total portfolio of corporate loans in the bank reached around EGP 37.5 bn by the end of March 2024, compared to EGP 30.3 bn by the end of December 2023.
Total portfolio of Syndicated loan jumped by 93.2%, with an increase of EGP 1.5 bn during the first 9M of last year, reaching EGP 3.2 bn by the end of March 2024, compared to EGP 1.6 bn by the end of December 2023.
Direct loans portfolio witnessed a growth rate of 22.3% with an increase of EGP 4.6 bn during the first quarter of 2024, recording around EGP 25 bn by the end of March 2024, compared to EGP 20.5bn by the end of December 2023.
Debit current accounts portfolio in the bank experienced a growth of 13%, with an increase of EGP 1.1bn during the first 3 months of this year, reaching a value of EGP 9.1bn by the end of March 2024, compared to EGP 8.1 bn by the end of December 2023.
It is worth mentioning that the total customer loans and facilities at the bank recorded about EGP 55.4bn by the end of March 2024, compared to EGP47bn by the end of December 2023, to grow by 18% and achieve an increase of EGP 8.4bn during the first quarter of the current year.
