The performance of Egyptian Gulf Banks EG Bank market shares witnessed a collective decline during 2022 as it

EG Bank sees collective decline its market shares during 9M-22

1/9/2023 4:34:57 PM

The performance of Egyptian Gulf Bank’s (EG Bank) market shares witnessed a collective decline during 2022 as it lost about 0.13% of its market share in terms of assets which slumped to acquire 0.80% of the total assets of the banking sector at the end of September 2022, compared to 0.93% at the end of 2021.

The bank’s market share in terms of financial investments declined to account for 0.86 % of the total financial investments (securities) in the banking sector at Q3-22 compared to 1.21% at the end of 2021, losing about 0.34% of its total share.

However, bank’s market share in terms of loans fell to stand at 0.94% of total loans of the banking sector at 9M-22 compared to 1 % at the end of 2021, losing about 0.06 % of its total share.

The decline that the bank witnessed in its market share in terms deposits was attributed to the slump in its market share in terms of individual deposits market which decreased to stand at 0.37% of the total retail deposits of the banking sector at the end of September 2022, compared to 0.43% at the end of 2021, losing about 0.06% its total share.

EGBANK’s market shares in terms of loans also decreased to acquire 0.75% of the total loans of the banking sector at the end of last September, compared to 0.82% at the end of 2021, losing about 0.07% of its total share.