EGBANK, Al Baraka and saib top the fastest growing banks in retail loans during 2024

First Bank’s list of the fastest growing banks in retail loans during 2024 revealed that the Egyptian Gulf Bank topped the list with a growth rate of 91.81%, as its portfolio of retail loans increased to 16.047 billion pounds by the end of 2024, compared to 8.366 billion pounds by the end of 2023.

The list, which included 24 banks operating in the Egyptian banking sector, for which financial data were made available during the period under analysis, showed that all banks under analysis achieved positive growth rates in their individual loan portfolios during the year 2024.

Returning to the list, Al Baraka Bank took second place.The volume of its retail loans jumped by about 65.23% over the past year, recording 12.525 billion pounds by the end of 2024, compared to 7.580 billion pounds by the end of 2023.

saib came in third place, after its portfolio of retail loans increased by about 56.44% last year, reaching 19.776 billion pounds at the end of 2024, compared to 12.641 billion pounds at the end of 2023.

Abu Dhabi Islamic Bank Egypt «ADIB» won fourth place, as the volume of its retail loans increased by about 51.77% during 2024, recording 27.656 billion pounds at the end of last year, compared to 18.223 billion pounds at the end of 2023.

Suez Canal Bank took fifth place, after its portfolio of retail loans jumped by about 47.96% last year, reaching 5.494 billion pounds at the end of 2024, compared to 3.713 billion pounds at the end of 2023.

The Egyptian Export Development Bank «EBank» came sixth with a growth rate of 41.25%, as the volume of its individual loans rose to 10.896 billion pounds by the end of 2024, compared to 7.714 billion pounds by the end of 2023.

BANK NXT took seventh place, as its portfolio of individual loans jumped by about 37.31% over the past year, reaching 10.321 billion pounds at the end of 2024, compared to 7.517 billion pounds at the end of 2023.

Al Ahli Bank of Kuwait – Egypt «ABK – Egypt» ranked eighth place with a growth rate of 37.24% over the past year, thanks to the rise of its portfolio of retail loans to 22.903 billion pounds by the end of 2024, compared to 16.688 billion pounds by the end of 2023.

Abu Dhabi Commercial Bank – Egypt «ADCB» ranked ninth, as the volume of its retail loans jumped by about 35.11% over the past year, reaching 11.187 billion pounds at the end of 2024, compared to 8.280 billion pounds at the end of 2023.

As for tenth place, it went to Kuwait Finance House – Egypt, where its portfolio of retail loans increased by about 33.33% over the past year, reaching 4.951 billion pounds by the end of 2024, compared to 3.713 billion pounds by the end of 2023.

It is worth noting that all values and growth rates mentioned in the above analysis are according to separated financial statements announced for each bank at the end of 2024.