ABK-Egypt tops the fastest-growing Banks in syndicated loans during Q1-2024
First Bank
ABK-Egypt tops First Bank's list of fastest-growing banks in syndicated loans during the first quarter of this year, up from the 14th place on the same list in 2023.
Al Ahli Bank of Kuwait-Egypt’s syndicated loans jumped by 93.2% during the first 3M of this year, reaching EGP 3.18 bn by the end of March 2024, compared to EGP 1.65 bn by the end of December 2023, with an increase of EGP 1.5 bn.
This contributed to the growth of the Bank's total corporate loans by about 24% and an increase of EGP 7.2 bn during the first quarter of this year, reaching EGP 37.5 bn by the end of March 2024, compared to EGP 30.3 bn by the end of December 2023.
Overall, ABK-Egypt achieved strong growth in its financial indicators during this year, jumping its net profit by about 189.1%, to EGP 3.19 bn in the first quarter of 2024, compared to EGP 1.10 bn in the same period from 2023.
The Bank's assets portfolio increased at a growth rate of 18% in the first 3M of this year, reaching EGP 115.16 bn by the end of March 2024, compared to EGP 97.61 bn by the end of December 2023, with an increase of EGP 17.55 bn.
Total customer loans at ABK-Egypt jumped by 18% and an increase of EGP 8.4 bn during the first quarter of this year, reaching about EGP 55.4 bn by the end of March 2024, compared to EGP 47 bn by the end of December 2023.
Deposits portfolio increased by 15.4% during the first 3M of this year, recording EGP 95.87 bn by the end of March 2024, compared to EGP 83.06 bn by the end of December 2023, with an increase of EGP 12.80 bn.
To view the full list. Click More
