QNB-Egypt, HSBC, and ADIB-Egypt Lead Foreign Banks in Retail Deposit Portfolios Expansion Over the Last 3 Years

QNB-Egypt Tops the List of Foreign Banks with a Retail Deposit Portfolio Expansion of EGP 109.16 billion; HSBC Secures Second Place with EGP 57.72 billion

ADIB-Egypt ranked third with an increase of EGP 39.48 billion, while NBK-Egypt and Al Baraka claimed the fourth and fifth spots, with increases of EGP 28.94 billion and EGP 27.64 billion, respectively.

First Bank’s index of foreign banks operating in the Egyptian banking sector revealed that Qatar National Bank – Egypt «QNB-Egypt» topped the ranking of the biggest expansion in retail deposits over the past three years, with its total retail deposit rising by EGP 109.16 billion. The bank’s retail deposit portfolio grew to EGP 234.29 billion by the end of 2024, compared to EGP 125.13 billion at the end of 2021.

The index tracked increases in the total retail deposit portfolios of 13 foreign banks operating in the Egyptian market, for which financial data was available over the past three years (from year-end 2021 to year-end 2024).

Results showed that all banks under review recorded notable increases in their total retail deposit during this period. It is worth noting that both ABC and FABMISR underwent acquisitions, which affected the magnitude of their growth.

Returning to the ranking, HSBC Bank secured second place, with its retail deposit growing by EGP 57.72 billion over the past three years, reaching EGP 114.73 billion at the end of 2024, compared to EGP 57.01 billion at the end of 2021.

Abu Dhabi Islamic Bank – Egypt «ADIB-Egypt» came third, with a retail deposit increase of EGP 39.48 billion, bringing its portfolio to EGP 86.80 billion at the end of 2024, up from EGP 47.32 billion at the end of 2021.

National Bank of Kuwait – Egypt «NBK-Egypt» ranked fourth, as its retail deposit portfolio rose by EGP 28.94 billion to EGP 65.80 billion by year-end 2024, compared to EGP 36.87 billion in 2021.

Finally, Al Baraka Bank claimed the fifth spot with an increase of EGP 27.64 billion, with total retail deposit reaching EGP 62.69 billion by the end of 2024, compared to EGP 35.04 billion in 2021.

All figures and ratios cited in this analysis are based on the independently published financial statements of each bank.