Union National Bank-Egypt’s Retail Loans Hit EGP 704.4 Mln At End-2012

Union National Bank-Egypt’s retail loan portfolio surged 49.8% (EGP 234.3 million) to reach EGP 704.4 million at the end of 2012, compared to EGP 470.05 million at the end of 2011.

The bank’s business results showed that the personal loans accounted for 88.1% (EGP 620.8 million) of the retail banking portfolio at the end of last year, compared to EGP 417.05 million at the end of 2011.

The remaining value of the retail banking portfolio is divided upon debit current accounts, credit cards and housing loans.

The bank’s financial statements showed that corporate loan portfolio rose 20.6% (EGP 398.1 million) to reach EGP 2.3 billion at the end of 2012, compared to EGP 1.9 billion at the end of 2011.

The direct loans accounted for 26.04% (EGP 606.9 million) of the corporate loan portfolio at the end of last year, compared to EGP 383.6 million at the end of 2011.

The syndicated loans accounted for 23.3% (EGP 544.4 million) at the end of 2012, compared to EGP 412.1 million at the end of 2011.

The bank’s assets rose 20.3% (EGP 920.3 million) to reach EGP 5.4 billion at the end of 2012, compared to EGP 4.5 billion at the end of 2011.

The value of the bank’s investments in treasury bills and government securities increased 47.4% (EGP 504.4 million) to reach EGP 1.5 billion at the end of 2012, compared to EGP 1.06 billion at the end of 2011.

The bank achieved post-tax net profit of EGP 32.7 million at the end of 2012, compared to EGP 17.5 million at the end of 2011, registering an increase of 87%.