Al Baraka Bank's corporate loans grow by 18% during 9M-2024, recording EGP 42.6 bn

Al Baraka Bank's separate financial statements ended September 30, revealed that the bank's corporate loans portfolio rose by 18% and an increase of EGP 6.49 bn over the first 9 months of last year, reaching EGP 42.63 bn by the end of September 2024, compared to 36.15 bn by the end of December 2023.

The bank's total syndicated loans portfolio jumped by 56.65% and an increase of EGP 2.57 bn over the first 9 months of last year, registering about EGP 7.09 bn by the end of September 2024, compared to EGP 4.53 bn by the end of December 2023.

The bank's total direct loans portfolio increased to EGP 35.54 bn by the end of September 2024, compared to EGP 31.62 bn by the end of December 2023, to grow by 12.40% and achieve an increase of EGP 3.92 bn during the first 9 months of last year.

It is worth mentioning that the total portfolio of customer loans and facilities at the bank increased by 24.66% and an increase of about EGP 10.78 bn during the first 9 months of last year, to register EGP 54.51 bn by the end of September 2024, compared to 43.73 bn by the end of December 2023.