FABMISR, ABK-Egypt and ADIB top the best banks on the First Bank financial efficiency index

FABMISR,  ABK-Egypt and ADIB top the best banks on the First Bank financial efficiency index

The First Bank Financial Efficiency Index for the first 9M of 2024 revealed FABMISR tops with 67.67 points on the index, compared to the sector average of 50 points during the same period, driven by strong growth in its profitability indicators.

The financial efficiency index produced by the First Bank Research Centre measures the Bank's efficiency in two main axes; The first relates to the Bank's ability to achieve strong growth rates in its key portfolios to maintain and develop its market shares in the future, and the second to the Bank's ability to exploit its assets and resources to generate appropriate levels of profits.

The classification included 25 banks operating in the Egyptian banking sector, its financial statements were made available for the first half of 2024.

Returning to the list, ABK-Egypt ranked second with 63.26 points during the first 9M of 2024, driven by strong growth in its profitability indices.

ADIB-Egypt ranked third, with 57.5 points on First Bank's financial efficiency index for the first 9M of 2024, thanks to the remarkable growth in its profitability indicators.

HD Bank came in fourth place with 56.99 points during the first 9 months of 2024, followed by CIB with a total of 53.93 points during the same period, driven by strong growth in their profitability indicators.

As for the sixth position, Alex Bank received 52.67 points on the index in the first 9M of 2024, driven by the good growth of its profitability indicators.

NBK clinched a seventh by 48.13 points during the first half of 2024, underpinned by remarkable growth in its main portfolio.

EBank ranked eighth with 45.28 points during the first half of 2024, driven by strong growth in its main portfolio, followed by ADCB-Egypt with a total of 45.01 points during the same period, supported by significant growth in profitability indicators.

Ahli United Bank clinched a seventh by 44.65 points during the first 9M of 2024, underpinned by remarkable growth in its main portfolio.

It should be noted that the index according to the banks' separate financial statements for the financial period ending September 2024.