SC Bank, EGBank, and HD Bank, fastest growing listed Banks in assets after exchange rate neutralization during 2024

First Bank list of the fastest growing listed Banks in assets after exchange rate neutralization during 2024 revealed that SC Bank topped the list with a growth rate after exchange rate neutralization 46.75%, recording the size of its assets portfolio equivalent to EGP 180.19 bn by the end of 2024.

This ranking shows the real growth of the listed Banks’ customer deposits portfolios, especially after the fall in the value of the Egyptian pound against foreign currencies in the light of the reform decisions of the Central Bank of Egypt, which resulted in a rise in the exchange rate of the dollar from EGP 30.93 by the end of December 2023 to EGP 50.8866 by the end of 2024.

First Bank list of the fastest growing listed Banks in assets after exchange rate neutralization revealed the volume of assets of 12 listed Banks operating in the Egyptian banking sector, for which financial statements were available by the end of the period under analysis.

The list revealed 11 listed Banks achieved positive growth rates in the volume of their assets after exchange rate neutralization during 9M of this year, while 1 listed Banks experienced a decline in the volume of their portfolios by the end of 2024.

Returning to the list, EGBank ranked second after exchange rate neutralization by 41.32% during 2024, after registering the volume of its assets portfolio at EGP 138.249 bn by the end of 2024. 

HD Bank was third, after the volume of its assets rose at a rate of growth after exchange rate neutralization reached 41.08% in 2024, registering EGP 179.456 bn by the end of 2024.

As for the fourth position, ADIB received a growth rate after exchange rate neutralization of 38.58% during 2024, after its assets portfolio amounted to EGP 258.841 bn by the end of 2024.

EBank held fifth place after exchange rate neutralization by 34.37% during 2024, with its assets portfolio recorded EGP 181.867 bn by the end of 2024. 

It should be noted that all the above values and growth rates according to the separate financial statements announced to each bank by the end of 2024, and to view First Bank list of the fastest growing listed banks in assets before exchange rate neutralization, click here