ADCB Egypt, HDB top First Bank’s list of fastest growing Banks in terms of deposits 9M-22

Abu Dhabi Commercial Bank of Egypt-ADCB Egypt- topped First Bank list of fastest growing in banks in terms of deposits during the first 9 months of 202.

The bank’s total deposits posted EGP 56.6 billion at the end of September 2022, compared to EGP 41.1 billion at the end of December 2021 with a growth rate of 59.5 %.

First bank’s rating list included 19 banks operating in Egypt:

First bank rating list, which included 19 banks operating in the Egyptian banking sector, revealed that all the banks with financial statement available for analysis recorded positive growth rates in terms of the deposits portfolio during the period from January to September 2022

Egypt’s Housing and Development Bank came in second place with a growth rate of 38.7%, bringing total deposits to EGP87.2 billion at the end of September 2022, compared to EGP62.9 billion at the end of December 2021.

Banque Misr came in third place, with a growth rate 27.3 % during 9M. Its total deposits recorded EGP 1.2 trillion at the end of December 2021 while increasing to 1.6 trillion at the end of September 2022.

In addition, QNB Al Ahli was in fourth place; as its deposits portfolio jumped by 27.2% to EGP 377 billion at the end of September 2022, compared to 296.2 billion at the end of 2021. It was followed by Attijariwafa Bank with a growth rate of 26.1% during the same period.

Ahli United Bank came in the sixth place, with a growth rate of 24.5% during the first 9 months of 2022, while Commercial International Bank (CIB Egypt) ranked seventh, with a rate of 22.5% during the same period.

However, the National Bank of Egypt was ranked the eighth among other banks with a growth rate of 19.5% during the first 9 months of 2022. It succeeded in increasing its deposit portfolio by EGP464 billion to stand at EGP 2.9 trillion by the end of September 2022, compared to EGP 2.4 trillion by the end of December 2021 maintaining its position as the largest bank receiving customers deposits in the Egyptian banking sector.

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) ranked the ninth among other banks with a growth rate of 19.4% during the first 9 months of last year. Thus, its deposits portfolio jumped to EGP57.2 billion at the end of September 2022, compared to EGP 47.9 billion at the end of December 2021. It was followed by Banque du Caire as the tenth bank among other banks on the list with a growth rate of 18.9% during the same period.