Bank NXT, Al Baraka, and HD Bank top the fastest growing banks in credit cards during 2024

First Bank’s list of the fastest growing banks in credit cards during 2024 revealed that Bank NXT topped the list with a growth rate of 387.44% over the past year, as its credit card balances increased to 392.631 million pounds by the end of 2024, compared to 80.550 million pounds by the end of 2023.

First Bank list monitored the credit card portfolios of 23 banks operating in the Egyptian banking sector for which data was available during the analysis period, and revealed that they all achieved positive growth rates in their total credit cards during 2024.

Returning to the list, Al Baraka Bank took second place, thanks to an increase in its credit card balances by about 304.86% over the past year, reaching 243,035 million pounds at the end of 2024, compared to 60,030 million pounds at the end of 2023.

Housing and Development Bank came third, as its credit card balances jumped by about 118.07% over the past year, reaching 278.134 million pounds by the end of 2024, compared to 127.541 million pounds by the end of 2023.

Suez Canal Bank took fourth place, after the volume of its credit card balances increased by about 109.22% during 2024, recording 100.331 million pounds at the end of 2024, compared to 47.955 million pounds at the end of 2023.

Abu Dhabi Commercial Bank – Egypt «ADCB» came fifth, thanks to an increase in its credit card balances by about 97.84% over the past year, reaching 550,047 million pounds by the end of 2024, compared to 278,027 million pounds by the end of 2023.

Kuwait Finance House Bank – Egypt came in sixth place, as the volume of its credit card balances increased by about 85.50% over the past year, reaching 185,055 million pounds at the end of 2024, compared to 99,760 million pounds at the end of 2023.

Banque du Caire dominated seventh place, thanks to an increase in its credit card balances by about 81.72% over the past year, recording 3.191 billion pounds by the end of 2024, compared to 1.756 billion pounds by the end of 2023.

Egyptian Export Development Bank «EBank» won eighth place, after the volume of its credit card balances jumped by about 64.55% over the past year, reaching 279.297 million pounds at the end of 2024, compared to 169.734 million pounds at the end of 2023.

Arab African International Bank ranked ninth, as its credit card balances increased by about 62.15% over the past year, recording 1.507 billion pounds by the end of 2024, compared to 929.457 million pounds by the end of 2023.

As for tenth place, it went to Al Ahli Bank of Kuwait – Egypt «ABK – Egypt», thanks to an increase in the volume of its credit card balances by about 60.23% during the past year, reaching 861.864 million pounds at the end of 2024, compared to 537.899 million pounds in 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