Ahli United Bank's total customer financing rose by EGP 55 bn in 5 years
First Bank
Ahli United Bank - Egypt has achieved remarkable growth in its financing volume over the past 5 years. Its total financing to customers increased by 215.1% and by EGP 54.69 bn, reaching EGP 80.51 bn by the end of June 2024, compared to EGP 25.55 bn by the end of December 2018.
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 EGP 53.50 bn by the end of December 2022, compared to EGP 39.10 bn by the end of December 2021, with a growth rate of 36.8% and an increase of EGP14.39 bn.
The second highest growth rate in total Bank's customer financing was during 2020, with the portfolio rising by 28.1% and an increase of up to EGP 7 bn, reaching EGP 31.50 bn by the end of December 2020, compared to EGP 24.59 bn by the end of December 2019.
As for the portfolio's performance during the first half of this year, it rose by 19.9% and an increase of EGP 13.36 bn, reaching EGP 80.51 bn by the end of June 2024, compared to EGP 67.15 bn by the end of December 2023
In terms of the trends of the total financing portfolio of the Bank over the past 5 years, the largest proportion of which is controlled by the corporate loans.
This percentage is seen to increase during the period under analysis, with the proportion of corporate financing amounting to approximately 94.80% of the Bank's total loans by the end of June 2024, compared to 83.05% by the end of December 2018
The proportion of retail financing fell to 5.20% of the Bank's total loans by the end of June 2024, compared to 16.95% by the end of December 2018.
It is worth mentioning that the size of the corporate financing portfolio jumped to EGP 76.32 bn by the end of June 2024, compared to EGP 22 bn by the end of December 2018, with a growth rate of 259.73% and an increase of EGP 55.11 bn.
The size of the Bank's retail loans portfolio declined by 3.32% during the period under analysis, reaching EGP 4.19 bn by the end of June 2024, compared to EGP 4.33 bn by the end of December 2018
