Ahli united Bank's retail loans grow by 11%, reaching EGP 4.1 bn during Q1-2024

The financial statements of Ahli United Bank 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 10.91% during Q1- 2024, an increase of EGP405mn.

The size of the bank's portfolio of retail loans reached EGP 4.12 bn by the end of March 2024, compared to EGP 3.71 bn by the end of December 2023.

Contributing to this growth, Ahli United Bank 's personal loans rose by 14.2% and witnessed an increase of EGP 421 mn during the first quarter of this year to record EGP 3.38bn by the end of March 2024, compared to EGP 2.96bn by the end of December 2023.

The size of the bank's credit cards jumped by 30.3%, with an increase of EGP 30 mn during the first 3 months of 2024, moving from EGP 100 mn by the end of December 2023, to reach EGP 130mn by the end of March 2024.

The size of current accounts balances portfolio fell by 5.19% reached EGP267 mn by the end of last March, compared to EGP 303mn by the end of December 2023.

It is worth noting that the total customer loan portfolio rose by 13.43% and an increase of EGP 9.02 bn during the first quarter of the current year, reaching EGP 76.17bn by the end of March 2024, compared to EGP 67.15bn by the end of December 2023.