saib’s corporate sector achieves significant performance during H1-2024

The corporate sector of saib witnessed a remarkable development and growth during the first half of this year, reflected in the bank's strong figures, which prompted it to finish second on the level of listed banks in corporate loans, and clinched fifth place in corporate deposits in terms of the fastest growing Banks, supported by the efforts of Afdal Naguib, the bank's CEO and Managing Director.

Record leap in corporate loans

saib strengthened its corporate loans during the current year, pushing corporate loans portfolio to rise to EGP 45.9 bn by the end of June 2024, compared to EGP 33.6 bn by the end of 2023, with a growth of 36.56% on a semi-annual basis.

This strong performance was driven mainly by the growth of debit current accounts by 39.1% during the first 6 months of this year, reaching EGP 16.4 bn by the end of June 2024, compared to EGP 11.8 bn by the end of 2023, with an increase of EGP 4.6 bn.

In addition, the syndicated loans portfolio increased from EGP 13.9 bn by the end of 2023, to EGP EGP 20.3 bn by the end of June 2024, with growth of 46%, and an increase of EGP 6.4 bn.

In addition, direct loans increased to EGP 8.7 bn by the end of June 2024, compared to EGP 7.6 bn by the end of 2023, with growth of 15.4%, and an increase of EGP 1.2 bn, and other loans amounting to EGP 412 mn by the end of the same period

The corporate sector of saib contributed 74.59% to the Bank's total loans portfolio, which jumped to EGP 61.5 bn by the end of June 2024, compared to EGP 46.3 bn by the end of 2023, with a growth of 32.9% and an increase of EGP 15.2 bn, clinching second place on the list of fastest-growing listed banks in total customer loans during the first half of this year.

Corporate Sector the largest contributor to the growth of saib’s Deposit Portfolio

Corporate deposit portfolio of saib recorded a remarkable development during the first half of this year, jumping its portfolio by 24.5%, reaching EGP 75.9 bn by the end of June 2024, compared to EGP 61 bn by the end of 2023, with an increase of EGP 14.9 bn.

The corporate sector accounted for 68.53% of the Bank's total deposit portfolio, which jumped by 29.8%, to EGP 110.8 bn by the end of the second quarter of 2024, compared to EGP 85.3 bn by the end of 2023, clinching fourth place on the list of the fastest growing banks in customer deposits during the first half of this year.

For more news about saib and its achievements, click more