144 billion pounds, the volume of deposits, with a growth rate of 50% over last year.
The Agricultural Bank of Egypt achieved great progress in the overall business results and performance indicators of the bank by the end of 2022, reflecting the accelerated success achieved by the comprehensive development plan that the bank is currently implementing in all sectors to improve the quality of its banking and financing services and meet the needs of its customers.
This allows the bank to exercise its role as one of the banking institutions specialized in financing the agricultural sector in all its productive fields to increase the volume of agricultural and animal production, in implementation of the directives of President Abdel Fattah El-Sisi, President of the Republic.
During the year 2022, the bank achieved rapid growth rates in the volume of its business as a result of the new policies adopted by the bank headed by Alaa Farouk, Chairman of the Board of Directors, which were greatly reflected in the development of the bank’s business, as the volume of the loan portfolio amounted to regarding 63.038 billion pounds, according to the credit portfolio on November 30, 2022, with a development rate of 12%. % compared to the size of the portfolio on December 31, 2021, which was estimated at regarding 56.3 billion pounds, and the number of clients benefiting from those loans reached regarding 536,432 clients.
While the deposit portfolio witnessed a remarkable increase by 50%, jumping from EGP 95.975 billion on December 31, 2021 to reach regarding EGP 143.931 billion on November 30, 2022, an increase of EGP 47.956 billion, which translates customers’ confidence in the bank’s ability to manage their savings and facilitate their transactions according to the latest banking systems, which is This is also confirmed by the growth of the retail banking sector, whose credit transactions amount to regarding 11.236 billion pounds, benefiting regarding 88,551 customers.
According to the classification of the loan portfolio, the bank achieved a significant growth in the volume of loans directed to financing medium, small and micro projects and activities, reaching regarding 73% of the loan portfolio due to the importance of this vital sector in supporting the national economy and providing real job opportunities, especially in the agricultural sector and its related activities. The micro-enterprises that the bank financed at the end of November 2022 amounted to regarding 440,684 projects for individuals and companies that obtained financing worth EGP 32.947 billion.
While the number of small companies increased from 4,073 companies on December 31, 2021 to 6,996 companies at the end of November 2021, they were funded by 5.880 billion pounds, with a growth rate of 44%, while the number of medium-sized companies funded increased from 75 companies to 91 companies that received financing worth 3 billion pounds.
This reflects the great interest that the Bank attaches to the development of this sector of projects. At the same time, the Bank did not ignore the importance of financing major projects and companies to maximize their role in supporting and developing the national economy and their ability to provide direct and indirect job opportunities for a wide segment of the rural population.
As the number of major companies financed by the bank increased from 65 companies whose financing volume amounted to regarding 4.3 billion pounds on December 31, 2021, to reach 110 companies whose financing volume is estimated at regarding 10 billion pounds, according to the portfolio of November 30, 2022, i.e. a growth rate of regarding 131%, which is a new achievement added to the number of achievements it has achieved. bank during the year.
During the past year, the bank doubled the volume of financing directed to the production of agricultural crops due to the bank’s adoption of new policies aimed at adjusting the credit categories for agricultural crops at rates ranging between 25 and 70% for some crops, especially strategic crops, to help farmers bear the high costs of production and agricultural requirements, bringing the volume of crop loan financing About 9.829 billion pounds, from which more than 250 thousand farmers benefit, to cultivate regarding 970 thousand feddans,
The bank aims to increase the number of beneficiaries of these loans to 450,000 farmers during the next year by expanding the granting of vegetable production loans to small farmers and producers in rural areas and agricultural projects in new development areas to stimulate investment in the agricultural sector.
Efforts of the Egyptian Agricultural Bank
Within the framework of the efforts exerted by the Egyptian Agricultural Bank to work on the development of livestock, the volume of financing for animal production projects amounted to regarding 16.5 billion pounds, benefiting regarding 176,041 clients to raise regarding 640 thousand heads of livestock, while the volume of financing for poultry and fisheries projects amounted to regarding 285 million. The Agricultural Bank is a strategic partner and the largest financing bank for the national project to revive veal, which is being implemented according to the directives of the President of the Republic, in coordination with the Ministry of Agriculture.
The total financing granted by the bank amounted to regarding 4 billion pounds, which was granted to more than 18,500 beneficiaries to raise regarding 238 thousand heads of cattle, while the amount of financing for establishing and developing dairy collection centers amounted to regarding 173 million pounds for financing, while the volume of financing directed to financing agricultural and service manufacturing amounted to regarding 18.353 billion pounds.
The Agricultural Bank of Egypt has also intensified its efforts during the last period to direct all its capabilities to support and finance the beneficiaries of major agricultural reclamation projects that aim to increase the agricultural area, such as the Egyptian Rural Development Project “One and a half acres”, the New Delta, the future of Egypt, Toshka, and others, by providing financing programs that meet all the needs of farmers and producers. To stimulate agricultural investment.
Contract farming had a large share in the bank’s policies and work plans, which contributed to increasing the volume of financing directed to contract farms, especially with the strawberry crop in Qalyubia and sugar beet in Kafr El-Sheikh. The bank is also linked with all sugar factories in tripartite contracts with farmers to supply cane in the governorates of Upper Egypt.
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