Bank ABC’s loans to deposit ratio increased to 41.09% by June 2024end

The separate financial statements of ABC Egypt, ending on June 30 of the current year, revealed an increase in loans to deposits ratio, to reach 41.09% by the end of June 2024, compared to 40.35% by the end of December 2023.

The bank has achieved remarkable growth in its main indicators, as net profits increased by 52.49%, an increase of EGP 368.76 mn during the first 6 months of the current year, to record EGP 1.07 bn during the first half of 2024, compared to EGP 702.55 bn during H1-2023.

At the level of financial position, ABC- Egypt achieved a growth rate of 12.03% during the first half of this year, as total assets recorded around EGP77.71bn by the end of June 2024, compared to EGP69.37 bn by the end of December 2023, achieving an increase of EGP8.35bn.

The bank was able to raise granting of credit to customers by EGP3.33bn, as the Total portfolio of customer loans surged by 14.27% during the first half of the current year, to record EGP26.64bn by the end of June 2024, compared to EGP 23.31 Bn by the end of December 2023.

The bank was able to increase its deposit portfolio by EGP 7.05 bn, achieving a growth rate of 12.20% during the first half of this year, to record EGP 64.83 bn by the end of June 2024, compared to EGP 75.77 bn by the end of December 2023.