Emirates NBD’s corporate sector achieves significant performance during H1-2024

The Emirates NBD Egypt corporate sector achieved a remarkable development during the first half of 2024, with the bank's corporate loan portfolio rising by 21.58% and an increase of EGP 9.92 bn during the first 6 months of 2024, recording EGP 55.90 bn by the end of June 2024, compared to EGP 45.97 bn by the end of 2023, thereby reserving a seat among the 10 fastest growing banks in corporate loans on the First Bank list during H1-2024. 

This growth was driven by a rise in the bank's direct loan portfolio, jumping by 42.78% and an increase of EGP 5.70 bn during the first half of 2024, exceeding EGP 19 bn by the end of June, compared to EGP 13.33 bn by the end of December 2023.

The relative weight of the direct loan portfolio increased to 34.04% of total corporate loans by the end of June 2024, compared to a relative weight of 29% of total corporate loans by the end of last year.

The portfolio of syndicated loans also rose by 34.12% during the first half of this year to register EGP 6.36 bn by the end of June 2024, compared to EGP 4.74 bn by the end of 2023, with an increase of EGP 1.62 bn.

The relative weight of the syndicated loan portfolio rose to 11.37% of the bank's total corporate loans by the end of June, compared to a relative weight of 10.31% of its total corporate loans by the end of December 2023.

The Bank's current account balances rose by 9.33% and an increase of EGP 2.60 bn by the end of the first half of 2024 compared to EGP 27.9 bn by the end of 2023.

The Emirates NBD’s corporate Sector contributed about 78.23% to the Bank's total portfolio, rising by EGP 11.39 bn, bringing its total loan portfolio to EGP 71.46 bn by the end of June 2024, compared to EGP 60.06 bn by the end of 2023, placing tenth on the list of the fastest growing banks in customer loans in the first half of 2024.

The corporate sector accounts for the largest share of the Bank’s deposit portfolio

Emirates NBD's Corporate Deposit Portfolio recorded around EGP 71.62 bn by the end of June 2024, accounting for about 64.6% of the Bank's total customer deposit portfolio that increased by 7.88% in the first 6 months of 2024, reaching EGP 110.74 bn by the end of June 2024, compared to EGP 102.65 bn by the end of December 2023, with an estimated increase of EGP 8.08 bn.

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