EBank's Corporate Sector achieves significant performance during H1-2024
First Bank
EBank has achieved a record performance in the first half of 2024, boosting its corporate loans during the first half of this year, after its portfolio of corporate loans rose by 13.4%, registering EGP 53.19 bn by the end of June 2024, compared to EGP 46.90 bn by the end of December 2023.
This growth was driven by an increase of 11.26% in the current account balance of corporates and an increase of EGP 3.33 bn during the first half of this year, up from EGP 32.90 bn by the end of June, compared to EGP 29.57 bn by the end of 2023.
The portfolio of direct loans to corporates rose to EGP 11.07 bn by the end of June 2024, compared to EGP 9.81 bn by the end of 2023, to grow by 12.86%, with an increase of EGP 1.26 bn.
The bank's syndicated loan portfolio jumped nearly 23% in the first 6 months of this year, registering EGP 9.22 bn by the end of June 2024, compared to EGP 7.53 bn by the end of December 2023, an increase of EGP 1.70 bn.
The Export Development Bank of Egypt’s corporate sector contributed about 84.81% of its total customer loans, which rose by 15% to EGP 62.72 bn by the end of June 2024, compared to EGP 54.62 bn by the end of 2023, with an increase of EGP 8.10 bn.
Corporate deposits jump 47.4%
The Bank's corporate deposit portfolio rose from EGP 71.49 bn by the end of 2023 to EGP 105.39 bn by the end of June 2024, jumping by 47.41% and an increase of EGP 33.90 bn
The corporate sector accounted for 85.69% of the Bank's total deposit portfolio, after rising its deposit portfolio by EGP 36.05 bn to EGP 122.98 bn by the end of the first half of this year, compared to EGP 86.93 bn by the end of the year.
