Al Baraka Bank's total customer financing rose by more than EGP 31 bn since 2018

Al Baraka Bank's customer financing has grown significantly over the past five years, rising by 174%, to EGP 49.8 bn by the end of the first half of 2024, compared to EGP 18.2 bn at the end of 2018, representing an increase of EGP 31.6 bn. 

During the period under analysis, the highest annual growth rate and the largest value of the portfolio increased in 2022, with the Bank's total customer financing rising to Pound 35.4 bn by the end of the year, compared to Pound 24.3 bn by the end of 2021, with an increase of Pound 11.1 bn, with a growth rate of 45.84% year-on-year, leading the First Bank list of the fastest growing banks in total customer financing in 2022

The second-highest growth rate in total Al Baraka Bank’s Customer Financing was last year, with its portfolio rising by 23.36%, to EGP 43.6 bn by the end of 2023, compared to EGP 35.4 bn by the end of 2022, leading the First Bank list of the fastest growing banks in total customer financing for the second consecutive year.

As for the growth of the Bank's total customer financing during the current year, its portfolio jumped by about 14% in the first six months of 2024, registering EGP 49.8 bn by the end of June, compared to EGP 43.7 bn by the end of 2023, with an increase beyond EGP 6 bn.

In terms of financing portfolio trends at Al Baraka Bank over the past five years, corporates remain in control of the largest part of the portfolio. However, there has been a relative decline in the proportion of corporate financing during this period, from 90.76% of total bank loans by the end of 2018 to about 79.09% by the end of June 2024.

In contrast, retail financing saw a marked increase in their relative weight, rising from 9.24% by the end of 2018 to 20.91% by the end of June 2024

It should be noted that the Bank's corporate financing jumped to EGP 39.4 bn by the end of June 2024, compared to EGP 16.5 bn by the end of 2018, with a growth of 138.79% and an increase of EGP 22.8 bn