How did Bank ABC's corporate loans develop after integration with BLOM

Bank ABC managed to achieve strong growth in its corporate loan portfolio in 15 months and specifically after its acquisition of BLOM Egypt. The bank's corporate loans portfolio rose by 32.36% and an increase of EGP 5.36 bn to EGP 21.91 bn by the end of June, compared to EGP 16.55 bn by the end of March 2023.

Corporate loans account for 82% of total customer loans

The relative weight of the Bank's corporate loan portfolio increased to 82% of total Bank customer loans, compared to a relative weight of 76% of total customer loans by the end of March 2023

This growth was driven by a rise in the bank's direct loan portfolio, which jumped by 203.38% and an increase of EGP 10.65 bn during the first half of this year, up from EGP 15.89 bn by the end of June 2024, compared to EGP 5.24 bn by the end of March 2023.

The direct loan portfolio accounted for about 73% of total corporate loans by the end of June, compared to a relative weight of 32% of total corporate loans by the end of March 2023, rising by more than 40%, and coming at the expense of current account debits after their relative weight dropped to 18% by the end of June

The Bank's syndicated loan portfolio grew by 41% and increased by 572 million pounds during the first 6 months of this year, reaching EGP 1.97 bn by the end of June 2024, compared to EGP 1.40 bn by the end of March 2023

The relative weight of the bank's syndicated loan portfolio rose to register 9% of total corporate loans by the end of June, compared to 8% by the end of March 2023

The bank's total customer loan portfolio rose by 22.93% and increased by EGP 4.97 bn in 15 months, from EGP 21.67 bn by the end of March 2023 to EGP 26.64 bn by the end of June 2024.

Overall, the Bank achieved an improvement in its key indicators during the first half of this year, after its customer deposit portfolio rose by 12.20% and an increase of EGP 7.05 bn, reaching EGP 64.83 bn by the end of June 2024, compared to EGP 57.77 bn by the end of December 2023

In terms of financial position, ABC has achieved growth of 12.03% and an increase of EGP 8.35 bn during the first half of this year, after registering a total of about EGP 77.71 bn by the end of June 2024, compared to EGP 69.37 bn by the end of last year.

The Bank also achieved net profit growth of 52.49% and an increase of EGP 368.76 mn, registering EGP 1.07 bn in the first half of 2024, compared to EGP 702.55 mn during the same period in 2023.

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