Faisal Islamic Bank sees collective decline its market shares during 2022

The performance of Faisal Islamic Bank of Egypt’s market shares witnessed a significant lessining during 2022. Its market share in terms of deposits has seen the largest slump while its market share in terms of loans has witnessed the lowest deprecation

The bank’s market share in terms of financial investments declined to account for 2.21 % of the total financial investments (securities) in the banking sector at Q3-22 compared to 2.24% at the end of 2021.

However, bank’s market share in terms of assets fell 0.21 to stand at 1.31% of total assets of the banking sector at Q3-22 compared to 1.52 % at the end of 2021.

Faisal Islamic Bank’s market shares in terms of loans also decreased to acquire 0.39% of the total loans of the banking sector at the end of last September, compared to 0.46% at the end of 2021, losing about 0.39% of its total share.

Despite the decline in the bank has seen in its market share in terms of loans, it was able to achieve a relative increase in its share in the retails loan market to reach 0.30% at Q3-2022, compared to 0.28% by the end of 2021.

The largest slump in the bank’s market share during 2022 was the decline it witnessed in terms of deposits as it has lost about 0.22% of its total share to account 1.48% of the total deposits of the banking sector at Q3-22, compared to 1.70% at the end of 2021.

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 retail deposits which decreased to stand at 2.32% of the total retail deposits of the banking sector at the end of Sep