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

AAIB corporate sector achieved a strong performance during the first half of this year. The Bank's figures were evidence of this. The Bank's corporate loans jumped by 22.25% during the first half of this year, to EGP 165.90 bn by the end of June 2024, compared to EGP 135.7 bn by the end of December 2023, with an increase of 30.19 bn pounds. 

This performance was driven by a direct loan portfolio of about 42%, and an increase of EGP 10.82 bn during the first six months of this year, after a value of EGP 36 41 bn by the end of June 2024, compared to EGP 25.56 bn by the end of last year.

Corporates debit current account balance rose by 8.73 bn pounds, with a growth rate of 14.61% during the first half of this year, to register EGP 68.50 bn by the end of June 2024, compared to EGP 59.77 bn by the end of 2023.

The bank's syndicated loan portfolio also rose from EGP 49.18 bn by the end of 2023, to EGP 60.90 bn by the end of June, growing by 23.83%, an increase of EGP 11.72 bn, and discounted commercial securities recorded EGP 34 mn, while other loans received EGP 48 mn during the same period.

AAIB corporate sector contributed about 86.07% of the total customer loans and facilities of the bank, which rose to EGP 192.75 bn by the end of June 2024, compared to EGP 154.37 bn by the end of 2023, to grow by 24.86%, and an increase of EGP 38.37 bn.

Corporate deposits jump 41.88%

The Bank's corporate deposits increased at a growth rate of 41.88, with an increase of EGP 95.60 bn, from EGP 228.25 bn by the end of 2023, to EGP 323.86 bn by the end of June 2024

Corporate sector accounted for about 58.89% of the Bank's total deposit portfolio, after its customer deposit portfolio rose to EGP 549.90 bn by the end of June 2024, compared to EGP 393.74 bn by the end of last year. 

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