ABK - Egypt tops fastest growing banks in customer loans after exchange rate neutralization during H1-2024
First Bank
Al Ahli Bank of Kuwait - Egypt (ABK) has achieved strong performance in its portfolio of loans, pushing it to top the list of the fastest growing banks in customer loans after neutralizing the exchange rate during the first half of this year after achieving a growth rate of 24.76%
Al Ahli Bank of Kuwait - Egypt's total loan portfolio amounted to EGP 60.77 bn by the end of June 2024, compared to EGP 47 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 EGP4.32 bn in the first half of 2024, compared to EGP 1.70 bn in the same period from 2023.
The Bank's deposit portfolio jumped at a growth rate of 24.97% and an increase of 20.74 billion pounds 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
Its portfolio of assets 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.
