Agricultural Bank of Egypt's Customer Deposits Jump 158%, with an increase of EGP 115.9 Bn during Last 4 Years

The Agricultural Bank of Egypt has achieved a surge in its customer'l deposits over the past 4 years, jumping its total portfolio at a rate of 157 .69%, to score EGP 189.4 bn by the end of September 2024, compared to EGP 73.50 bn by the end of December 2020, bringing an increase of EGP 115.9 bn, marking the culmination of customer confidence in the bank's ability to manage their savings and facilitate their transactions according to the latest banking systems.

During this period, the Bank's customer deposit portfolio achieved the highest annual growth rate in 2022 after jumping by 47.2%, while the second highest growth rate was 30.6% in 2021, and achieved 30.5% growth in 2023

As for the development of the portfolio during the first 9 months of this year, it rose marginally by 2.80% and an increase of EGP 5.15 bn, recording EGP 189.50 bn by the end of September 2024, compared to EGP 184.25 bn by the end of December 2023

The record growth in the Agricultural Bank of Egypt's deposit portfolio over the past years is attributable to the Bank's strategy to enhance confidence and improve financial services for its customers. It has developed its infrastructure and improved its digital services through the operation of its new banking system, which is the latest technology of a banking system in the world.

This system supports the Bank's efforts to launch a new range of digital products and smart applications that meet the needs of its customers to use digital banking and alternative payment channels.

The new system also represents a major step in developing the bank's banking operations, providing premium banking service to customers, tightening operations control and reducing operating risks, and helping to attract new segments of customers, especially young people, thereby significantly increasing the size of the bank's customer deposit portfolio.

The Bank's strategy also focused on attracting a wide range of new customers, enabling it to attract more than 28 thousand new customers who joined the Agricultural Bank customer list in 2024, as well as consolidating its position as a core bank in supporting rural and agricultural development.

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