AAIB, FABMISR, and SC Bank top the fastest growing banks in equity during 2024

First Bank’s list of the fastest growing banks in total equity during 2024 revealed that Arab African Bank topped the list, as its portfolio increased by about 86.92% over the past year, reaching 132.628 billion pounds by the end of 2024, compared to 70.956 billion pounds by the end of 2023.

First Bank list monitored the total equity of 24 banks operating in the Egyptian banking sector for which financial data were available for the analysis period and revealed that all banks achieved positive growth rates in the size of their equity portfolios during the year 2024.

The term equity refers to what remains for the owners after subtracting all liabilities from the bank's total assets (that is, it basically expresses the shareholders' equity in the bank's assets).

Returning to the list, First Abu Dhabi Bank – Egypt «FABMISR» took second place, as its equity rose by about 79.41% over the past year, recording 60.499 billion pounds by the end of 2024, compared to 33.721 billion pounds by the end of 2023.

Suez Canal Bank snatched third place, thanks to an increase in its equity portfolio by about 77.56% over the past year, reaching 13.873 billion pounds at the end of 2024, compared to 7.813 billion pounds at the end of 2023.

Al Ahli Bank of Kuwait – Egypt «ABK – Egypt» came in fourth place, after the volume of its equity jumped by about 69.19% over the past year, reaching 15.887 billion pounds by the end of 2024, compared to 9.390 billion pounds by the end of 2023.

Commercial International Bank «CIB» won fifth place, as the volume of its equity jumped by about 67.98% over the past year, recording 151.686 billion pounds at the end of 2024, compared to 90.300 billion pounds at the end of 2023.

Abu Dhabi Islamic Bank – Egypt «ADIB» came in sixth place, after its total equity increased by about 60.61% during 2024, reaching 22.373 billion pounds at the end of last year, compared to 13.930 billion pounds at the end of 2023.

saib ranked seventh, as its equity portfolio jumped by about 59.76% last year, recording 19.721 billion pounds at the end of 2024, compared to 12.344 billion pounds at the end of 2023.

Housing and Development Bank dominated eighth place, after its total equity increased by about 57.88% over the past year, recording 24.245 billion pounds by the end of 2024, compared to 15.357 billion pounds by the end of 2023.

Faisal Islamic Bank of Egypt ranked ninth, as its equity portfolio increased by about 56.96% over the past year, reaching 39.030 billion pounds by the end of 2024, compared to 24.867 billion pounds by the end of 2023.

As for tenth place, it went to Emirates NBD Bank – Egypt, after the volume of its equity increased by about 49.76% over the past year, reaching 17.378 billion pounds at the end of 2024, compared to 11.604 billion pounds at the end of 2023.

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