ABK- Egypt’s loans to deposit ratio increased to 58.54% by June 2024end

The separate financial statements of Al Ahli Bank of Kuwait - Egypt, ending on June 30 of the current year, revealed an increase in loans to deposits ratio, to reach 58.54% by the end of June 2024, compared to 56.59% by the end of December 2023.

The bank has achieved remarkable growth in its main indicators, as net profits increased by 154%, an increase of EGP 2.62bn during the first 6 months of the current year, to record EGP 4.32 bn during the first half of 2024, compared to EGP 1.70 bn during H1-2023.

At the level of financial position, ABK- Egypt achieved a growth rate of 30.48% during the first half of this year, as total assets recorded around EGP127.36bn by the end of June 2024, compared to EGP97.61 bn by the end of December 2023, achieving an increase of EGP29.75bn.

The bank was able to raise granting of credit to customers by EGP13.77bn, as the Total portfolio of customer loans surged by 29.30% during the first half of the current year, to record EGP60.77bn by the end of June 2024, compared to EGP 47 Bn by the end of December 2023.

The bank was able to increase its deposit portfolio by EGP 20.74 bn, achieving a growth rate of 24.97% during the first half of this year, to record EGP 103.81 bn by the end of June 2024, compared to EGP 83.6 bn by the end of December 2023.