BANK NXT, Al Baraka Bank and ADCB top fastest growing private sector banks in credit card balances in the last 3 years

First Bank list of the fastest growing private sector banks operating in the Egyptian banking sector in credit card balances in the last 3 years revealed that BANK NXT«topped the list, as its portfolio of credit card balances increased by about 1,629.1%, reaching 392.63 million pounds by the end of 2024, compared to 22.71 million pounds by the end of 2021.

The «First Bank» list monitored the total credit card balances of 17 private banks operating in the Egyptian banking system for which financial data were available for the last 3 years (specifically from the end of 2021, until the end of 2024), and showed that all banks achieved positive growth rates.

It is worth noting that the banks «ABC» and «FABMISR» achieved growth rates of 330.6% and 101.9% in the last 3 years as a result of the acquisitions that took place and were excluded from the classification for the accuracy of the comparison. 

Returning to the list, Al Baraka Bank took second place, as its portfolio of credit card balances increased by about 869.1% in the last 3 years, reaching 243.04 million pounds by the end of 2024, compared to 25.08 million pounds by the end of 2021.

Abu Dhabi Commercial Bank – Egypt «ADCB» ranked third with a growth rate of 826.1% over 3 years, thanks to an increase in the volume of its credit card balances to 550.05 million pounds at the end of 2024, compared to 59.40 million pounds at the end of 2021.

Kuwait Finance House Bank-Egypt won fourth place, after its credit card balances rose by about 459.6% in the last 3 years, reaching 185.06 million pounds by the end of 2024, compared to 33.07 million pounds by the end of 2021.

The Arab African International Bank came fifth, as its portfolio of credit card balances jumped by about 443.6% over 3 years, reaching 1.51 billion pounds by the end of 2024, compared to 277.25 million pounds by the end of 2021.

The National Bank of Kuwait «NBK – Egypt» came in sixth place, after the volume of its credit card balances increased by about 339.3% in the last 3 years, recording 792.99 million pounds by the end of 2024, compared to 180.50 million pounds by the end of 2021.

Al Ahli Bank of Kuwait – Egypt «ABK – Egypt» dominated seventh place, as its portfolio of credit card balances jumped by about 278.8% over 3 years, reaching 861.86 million pounds at the end of 2024, compared to 227.53 million pounds at the end of 2021.

Al Ahli Bank of Kuwait – Egypt «ABK – Egypt» dominated seventh place, as its portfolio of credit card balances jumped by about 278.8% over 3 years, reaching 861.86 million pounds at the end of 2024, compared to 227.53 million pounds at the end of 2021.

The Egyptian Gulf Bank «EGBANK» snatched eighth place, thanks to an increase in its portfolio of credit card balances by about 241.5% over 3 years, reaching 272.70 million pounds at the end of 2024, compared to 79.86 million pounds by the end of 2021.

Suez Canal Bank ranked ninth, thanks to an increase in its portfolio of credit card balances by about 236.2% over 3 years, recording 100.33 million pounds at the end of 2024, compared to 29.84 million pounds at the end of 2021.

As for tenth place, it went to the Bank of Alexandria, where its portfolio of credit card balances jumped by about 209.1% in the last 3 years, reaching 1.06 billion pounds by the end of 2024, compared to 343.69 million pounds by the end of 2021.

It is worth noting that all values and growth rates mentioned in the above analysis are in accordance with the independent financial statements announced for each bank.