ABK - Egypt tops fastest growing banks in syndicated loans during H1-2024
First Bank
ABK-Egypt leads First Bank list of fastest growing banks in syndicated loans during the first half of 2024, up from 14th place on the same list for the year 2023
The Bank's syndicated loans jumped by 85.91% to EGP 3.06 bn by the end of June 2024, compared to EGP 1.65 bn by the end of December 2023
This contributed to the growth of the Bank's total corporate loans by 38.32% and an increase of EGP 11.62 bn during the first half of this year, reaching EGP 41.93 bn by the end of June 2024, compared to EGP 30.32 bn by the end of 2023
Overall, ABK-Egypt achieved a strong performance in its financial indicators during this year, jumping its net profit by 154% and an increase of EGP 2.62 bn, registering EGP 4.32 bn in the first half of 2024, compared to EGP 1.70 bn in the same period from 2023.
Its assets portfolio rose by 30.48% and an increase of EGP 29.75 bn during the first half of this year, reaching EGP 127.36 bn by the end of June 2024, compared to EGP 97.61 bn by the end of 2023
The total portfolio of customer loans rose by 29.29% and an increase of EGP 13.77 bn during the first half of this year, registering about EGP 60.77 bn by the end of June 2024, compared to EGP 47 bn by the end of 2023
The Bank's deposit portfolio jumped at a growth rate of 24.97% and an increase of EGP 20.74 bn during the first half of this year, recording EGP 103.81 bn by the end of June 2024, compared to EGP 83.06 bn by the end of 2023
