Agricultural Bank of Egypt sees loan portfolio surge to EGP 80.3 billion in Q3 2024

The Agricultural Bank of Egypt (ABE) reported significant growth in the third quarter of 2024, with its loan portfolio reaching EGP 80.3 billion by the end of September. This represents an increase of EGP 9 billion compared to the previous year’s third-quarter figures, which stood at EGP 71.9 billion.

The bank’s success in expanding its loan portfolio has drawn in approximately 28,000 new clients in 2024, boosting the total number of loan beneficiaries to around 506,000.

ABE’s disciplined credit policies continue to prioritize lending for productive activities, fueling investments across Egypt’s agricultural, industrial, and service sectors.

This strategic approach aligns with the bank’s broader goal of bolstering national economic growth through targeted financing.

Alongside this loan expansion, ABE saw a substantial increase in its deposit portfolio, which grew by EGP 20.2 billion from EGP 169.2 billion in 2023 to EGP 189.4 billion in 2024.

This growth reflects strong customer confidence, which has been reinforced by ABE’s implementation of the advanced “FINICAL” banking system.

This system enhances transaction security, operational efficiency, and the quality of banking services, further positioning ABE as a leader in Egypt’s financial sector.