ABK-Egypt’s Retail deposits jump 32% during H1-2024, recording EGP 28.3 bn
ABK-Egypt's separate financial statements ended 30 June, revealed an increase in the retail deposit portfolio at a growth rate of 32.04% and an increase of EGP 6.88 bn during the first half of 2024.
The size of the bank's retail deposit portfolio was about EGP 28.35 bn by the end of June 2024, compared to 21.47 bn by the end of December 2023, earning 27.31% of the bank's total deposit portfolio.
The total corporate deposit portfolio increased by 22.51% and increased by EGP 13.86 bn during the first half of this year, reaching EGP 75.46 bn by the end of June 2024, compared to 61.60 bn by the end of December 2023, earning 72.69% of the bank's deposit portfolio volume.
The increase in the Bank's total customer deposit portfolio is due to the rise in the demand deposits and current accounts portfolio at a growth rate of 30.02% and an increase of EGP 11.71 bn during the first half of this year, recording EGP 50.74 bn by the end of June 2024, compared to 39.03 bn by the end of December 2023.
The portfolio of Time Deposits rose at a growth rate of 21.25% and an increase of EGP 5.57 bn during the first 6 months of this year, registering EGP 31.80 bn by the end of June 2024, compared to 26.22 bn by the end of December 2023.
Saving deposits portfolio jumped by 98.66% and an increase of EGP 2.56 bn during the first half of this year, registering EGP 5.15 bn by the end of June 2024, compared to 2.59 bn by the end of December 2023.
The saving deposits and certificates deposits portfolio rose by 5% during the first half of this year and an increase of EGP 707 mn, reaching EGP 14.93 bn by the end of June 2024, compared to 14.22 bn by the end of December 2023, while the other deposit portfolio increased by 19.08% during the same period.
The Bank's total deposit portfolio increased by 25% and an increase of EGP 20.74 bn during the first half of this year, registering EGP 103.81 bn by the end of June 2024, compared to 83.06 bn by the end of December 2023.
