232% growth in family sector loans from banks over the last 5 years

Family sector loans in the Egyptian banking sector have grown considerably in recent years, with banks expanding their financing offerings to meet the needs of individuals and families, contributing to stimulating domestic consumption and enhancing families' financial stability. As a result, Egypt's family sector loan portfolio increased by 232%, with an increase of some EGP 706.779 bn over the last 5 years, registering EGP 1.012 trillion by the end of May 2024, compared to EGP 304.765 bn by the end of December 2018.

In terms of growth rates in total lending to the family sector from banks over the past years, the size of the portfolio grew by 31.40% in 2020 "the highest annual growth rate in the volume of the portfolio during the period under analysis", valued at approximately EGP 512.055 bn by the end of December 2020, compared to 389.678 bn by the end of December 2019.

The total loan portfolio for the family sector also achieved the second highest annual growth rate in 2019 at 27.86%, moving from EGP 304.765 bn by the end of December 2018, reaching 389.678 bn by the end of December 2019.

In the current year, the volume of loans to the family sector from banks operating in the Egyptian banking sector increased by 8.38% and an increase of EGP 78.217 bn during the first 5 months of 2024, bringing the portfolio size to EGP 1.012 trillion by the end of May 2024, compared to 933.327 bn by the end of December 2023.

Overall, the Egyptian banking sector achieved outstanding performance during the current year, with the total customer loans portfolio from banks operating in the banking sector "other than CBE" rising at a rate of 36.38% and an increase of EGP 1.92 trillion during the period from January to June to record EGP 7.21 trillion by the end of June 2024, compared to 5.29 trillion by the end of December 2023.