Agricultural Bank of Egypt rose its loan portfolio to EGP 80.3 bn by the end of September 2024

The Agricultural Bank of Egypt concluded the third quarter of this year with high growth rates in business results indicators, reflecting the accelerated success of the comprehensive development plan currently implemented by the Bank in all its sectors and confirming its excellence as one of the banking sector's largest banks in financing agricultural projects and associated industrial and service activities to achieve agricultural development and support the national economy.

According to the indicators of the Bank's business results in the third quarter of 2024, the volume of the loan portfolio increased to EGP 80.3 bn by the end of September 2024, compared to EGP 71.9 bn by the end of September 2023, bringing an annual growth of about 12% and an increase of EGP 9 bn.

Around 506 thousand individual and corporate customers benefited from these loans, including 28 thousand new customers who joined the Bank's customer list during the 2024.

This was the result of the Bank's continuing to pursue disciplined credit policies to link lending to production and direct financing for serious productive activities, thereby stimulating investment in the agricultural sector in all its productive areas.

During the third quarter of 2024, the Bank succeeded in diversifying its loan portfolio to include expanding the loans of activities and industrial, commercial and service corporates, along with its key role as one of the largest banks specializing in the development and financing of the agricultural sector and related activities and industries, as part of the Bank's new strategy aimed at providing all banking and financing services with the highest quality, making it a strong competitor in the banking market and able to meet the needs of all its customers