FABMISR, AAIB and Banque du Caire top the best banks in asset coverage ratio for deposits

First Bank list of the best banks in the asset coverage rate for deposits at the end of 2024 revealed that First Abu Dhabi Bank-Egypt «FABMISR» topped the list with a coverage rate of 159.5%, after the bank’s total assets recorded about 412.71 billion pounds, while total deposits reached 258.79 billion pounds at the end of 2024.

The Asset Coverage of Deposits Index expresses the ability of banks to cover their customers’ deposits using their asset portfolios, and is classified according to the rate (assets/deposits)×100.The higher the value of this rate, the more this indicates a high level of security that the bank provides to its depositor customers of various segments.

The list included 24 banks operating in the Egyptian banking sector, for which financial data were available during the period under analysis.The list revealed that all banks under analysis enjoyed strong rates of covering their customers’ deposits.

Returning to the list, the Arab African International Bank ranked second, with an asset coverage rate for deposits of 137.4% at the end of last year, after the bank’s total assets amounted to about 923.65 billion pounds, while the total portfolio of its clients’ deposits recorded about 672.42 billion by the end of 2024.

In third place came Banque du Caire, after its asset coverage rate for deposits recorded about 137.1% at the end of last year, as its total asset portfolio reached 483.10 billion pounds, while its total deposit portfolio recorded 352.27 billion at the end of 2024.

Faisal Islamic Bank took fourth place, as the asset coverage rate for its deposits recorded 135.9% at the end of last year, as the bank’s total asset portfolio reached 240.23 billion pounds, while its total deposit portfolio recorded 177.06 billion pounds at the end of 2024.

Suez Canal Bank occupied fifth place, as its asset coverage rate for deposits recorded 133% at the end of the previous year, after its total asset portfolio reached 180.19 billion pounds, and the size of its customer deposit portfolio reached 135.47 billion pounds by the end of 2024. 

Credit Agricole Bank - Egypt came in sixth place after recording an asset coverage rate for its deposits of 132.5% at the end of last year, as the bank’s total asset portfolio reached 126.60 billion pounds, while its total deposit portfolio reached 95.52 billion pounds by the end of 2024. 

The Egyptian Export Development Bank «EBank» ranked seventh, with a coverage rate of 132.5% at the end of last year, as the total asset portfolio recorded 181.87 billion pounds, while the total deposit portfolio reached 137.31 billion pounds by the end of 2024. 

As for eighth place, it went to The United Bank, after the asset coverage rate for its deposits reached 131.4%, as the total asset portfolio recorded 82.51 billion pounds, while the total deposit portfolio reached 62.82 billion pounds by the end of 2024. 

Abu Dhabi Islamic Bank-Egypt ranked ninth «ADIB» with an asset coverage rate for its deposits of 129.2%, after the total asset portfolio recorded 258.84 billion pounds, while the total deposit portfolio reached 200.28 billion pounds by the end of 2024. 

Arab International Banking Company Bank «saip» came tenth with a coverage rate of 127.7%, as the bank’s total asset portfolio recorded 150 billion pounds, while the total deposit portfolio reached 117.45 billion pounds by the end of 2024. 

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