FABMisr, SC Bank, and AAIB, fastest-growing banks on First Bank Composite Growth Index

First bank composite index revealed that FABMisr led with a 67.46% growth rate, driven by a 160% increase in net profits while total customer loans, assets and deposits achieves a growth rate of 44.97%, 38.98%, and 25.89% respectively.

The list included 25 banks operating in the Egyptian banking sector, with their financial data available for analysis. All the analyzed banks achieved positive growth rates from January to September 2024.

Suez Canal Bank secured the second position on the index with a composite growth rate of 67.21% during the first six months of the current year.

This growth was primarily fueled by a 130.07% increase in net profits, as well as growth in asset portfolios, deposits, and total customer loans at rates of 49.67%, 45.76%, and 43.32% respectively during the same period.

AAIB claimed the third position after achieving a composite growth rate of 66.99% during the first 9M of 2024.

This was attributed to a 122.62% increase in the bank's net profits, along with growth rates of 59.82%, 57.61%, and 27.90% in its asset portfolios, deposits, and total customer loans respectively during the same period.

ABK - Egypt secured the fourth position with a composite growth rate of 64.06%, driven by a 130.97% increase in net profits. Additionally, its asset portfolios, deposits, and total customer loans grew at rates of 44.20%, 40.87%, and 40.22% respectively during the same period.

ADCB came in fifth place with a composite growth rate of 63.87% during the first 9M of the current year. Net profits played a significant role in this growth, increasing by 157.05%, along with growth rates of 40.71%, 37.07%, and 20.63% in asset portfolios, deposits, and total customer loans respectively.

saib secured the sixth position with a composite growth rate of 58.52% during the first 9M of 2023. This growth was primarily driven by a 117.60% increase in net profits, along with growth rates of 41.69%, 37.99%, and 36.80% in total asset portfolios, deposits, and customer loans respectively. 

ADIB claimed the seventh position with a composite growth rate of 56.79%, achieving growth rates of 94.43% in net profits, and 47.94%, 44.91%, and 39.89% in asset portfolios, deposits, and total customer loans respectively during the first 9M of 2024.

Faisal Islamic Bank of Egypt secured the eighth position with a composite growth rate of 53.57% during the first 9M of the current year. This growth was supported by a 139.54% increase in net profits, as well as growth rates of 29.56%, 27.58%, and 17.59% in total asset portfolios, deposits, and customer loans respectively. 

EGBANK claimed the ninth position with a composite growth rate of 52.40% in its key indicators. This growth was supported by a 84.50% increase in net profits, as well as growth rates of 48.32%, 43.88%, and 32.90% in total asset portfolios, deposits, and customer loans respectively. 

EGBANK claimed the ninth position with a composite growth rate of 52.06% in its key indicators. This growth was supported by a 100.97% increase in net profits, as well as growth rates of 39.30%, 38.93%, and 29.04% in total asset portfolios, deposits, and customer loans respectively. 

It's worth noting that all the mentioned growth rates and percentages are based on separate financial statements announced by each bank at the end of September 2024.