QNB-Egypt, NBK-Egypt, and Crédit Agricole Lead Foreign Banks in Expanding Mortgage Loan Portfolios Over the Last 3 Years

QNB-Egypt topped the list of foreign banks with the largest expansion in mortgage loan portfolios, recording an increase of EGP 5.55 billion over the past three years.

NBK-Egypt secured second place with an increase of EGP 1.53 billion, while Crédit Agricole claimed third place with an increase of EGP 1.25 billion.

 ADIB-Egypt and FABMISR followed in fourth and fifth positions, with increases of EGP 563.06 million and EGP 271.84 million, 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 mortgage loans over the past three years, with its portfolio increasing by EGP 5.55 billion to reach EGP 8.40 billion by the end of 2024, compared to EGP 2.85 billion at the end of 2021.

The index tracked changes in mortgage loan portfolios of nine 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).

The results showed that seven banks recorded notable increases in their mortgage loan portfolios, while two banks experienced a decline during this period. It is worth noting that FABMISR underwent acquisitions during this timeframe, which impacted the magnitude of its growth.

Returning to the ranking, National Bank of Kuwait – Egypt «NBK-Egypt» came second, with its mortgage loan portfolio rising by EGP 1.53 billion over the past three years to reach EGP 1.78 billion by year-end 2024, compared to EGP 245.37 million at the end of 2021.

Crédit Agricole – Egypt ranked third, achieving an increase of EGP 1.25 billion, with its mortgage loan portfolio reaching EGP 1.48 billion in 2024, up from EGP 233.57 million in 2021.

Abu Dhabi Islamic Bank – Egypt «ADIB-Egypt» secured fourth place, as its mortgage loans rose by EGP 563.06 million over the past three years, reaching EGP 599.72 million by the end of 2024, compared to EGP 36.65 million in 2021.

Finally, First Abu Dhabi Bank – Egypt «FABMISR» came fifth, with its mortgage loan portfolio increasing to EGP 396.16 million in 2024, compared to EGP 124.32 million in 2021 — an increase of EGP 271.84 million over the three-year period.

It is worth noting that all figures and growth rates cited in this analysis are based on the independently published financial statements of each bank.