ADCB’s corporate sector achieves significant performance during 9M-2024

Abu Dhabi Commercial Bank (ADCB) Egypt's corporate sector experienced record growth during the first 9 months of this year, after the Bank was able to boost its corporate loan to grow by 19.27%, with an increase of EGP5.69 bn during the first 9 months of this year, and register EGP 35.20 bn by the end of September 2024, compared to 29.51 bn by the end of December 2023

This growth was driven by the rise in the size of the Bank's direct loan portfolio at a growth rate of 23.83% and an increase of EGP 4.72 bn during the first 9 months of this year, reaching EGP 24.51 bn by the end of September 2024, compared to 19.79 bn by the end of December 2023

The relative weight of the portfolio of corporate direct loans increased to represent about 69.64% of the total portfolio of corporate loans in the bank by the end of September 2024, compared to a relative weight of 67.07% of the total portfolio of corporate loans in the bank by the end of December 2023

The bank's syndicated loan portfolio jumped at a 46.47% growth rate during the first 9 months of this year, moving from EGP 188 bn by the end of December 2023, reaching 2.76 bn by the end of September 2024, thus achieving an increase of EGP 875 mn, and obtaining a relative weight of 7.84% of total corporate loans by the end of September 2024.

Abu Dhabi Commercial Bank's corporate sector contributed 77.21% of its total customer loans, which rose to EGP 45.59 bn by the end of September 2024, compared to 37.79 bn by the end of December 2023, to grow by 20.63% and achieve an increase of EGP 7.80 bn during the first 9 months of this year.

In terms of the size of the Bank's corporate deposit portfolio, it increased by 35.29% and an increase of EGP 25.52 bn during the first 9 months of this year, moving from EGP 72.32 bn by the end of December 2023, reaching EGP 97.85 bn by the end of September 2024

The corporate sector accounted for about 82.40% of total customer deposits at ADCB, after its deposit portfolio rose at a growth rate of 37.07% and recorded an increase of EGP 32.12 bn during the first 9 months of this year, reaching EGP 118.75 bn by the end of September 2024, compared to 86.64 bn by the end of December 2023.