SC Bank, Faisal Islamic Bank, and, ADIB fastest-growing listed banks on First Bank Composite Growth Index during 2024

First bank composite index revealed that Suez Canal Bank led with a 105.01% growth rate, driven by a 147.73% increase in net profits.

Additionally, their asset portfolios, deposits, and total customer loans grew by 113.31%, 83.95%, and 75.05% respectively during 2024.

The list included 12 listed 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. Faisal Islamic Bank secured the second position on the index with a composite growth rate of 69.05% during 2024. 

This growth was primarily fueled by a 69.05% increase in net profits, as well as growth in asset portfolios, deposits, and total customer loans at rates of 35.75%, 35.72%, and 15.35% respectively during the same period.

ADIB claimed the third position after achieving a composite growth rate of 66.36% during 2024.

This was attributed to a 96.57% increase in the bank's net profits, along with growth rates of 61.12%, 57.54%, and 50.18% in its asset portfolios, deposits, and total customer loans respectively during the same period.

CIB secured the fourth position with a composite growth rate of 57.05%, driven by a 92.67% increase in net profits. 

Additionally, its asset portfolios, deposits, and total customer loans grew at rates of 46.95%, 45.26%, and 43.33% respectively during the same period. 

EBANK came in fifth place with a composite growth rate of 54.11% during 2024. Net profits played a significant role in this growth, increasing by 65.91%, along with growth rates of 57.94%, 55.77%, and 36.84% in asset portfolios, deposits, and total 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 2024.