alBaraka, Suez Canal Bank top fastest growing banks in terms of total individual loans portfolio in 9M

alBaraka Bank – Egypt topped First Bank list of fastest growing banks in terms of individual loans during the first 9 months of 2022

The bank’s total individual loans portfolio posted EGP 3.97 billion at the end of September 2022, compared to EGP 2.48 billion at the end of 2021 with a growth rate of 59.76%.

19 banks achieve positive growth rates in individual loans portfolios during 9M-22

First bank rating list, which included 19 banks operating in the Egyptian banking sector, revealed that all the banks under analysis recorded positive growth rates in terms of individual loans portfolio during the period from January to September 2022.

Suez Canal Bank came in second place with a growth rate of 46.28%, bringing total individual loans portfolio to EGP2.62 billion pounds at the end of September 2022, compared to 1.79 billion pounds at the end of December 2021; continuing its sturdy performance and historical success in solving the nagging problem of non-performing loans.

The E-bank came in third place, with a growth rate 39.93 % during 9M. Its total individual loans portfolio recorded EGP 3.197 billion at the end of December 2021 while increasing to EGP4.47 billion at the end of September 2022.

In addition, Faisal Islamic Bank was in fourth place; as its individual loans portfolio jumped to EGP 2.13 billion pounds at the end of September 2022, compared to EGP 1.67 billion at the end of 2021 with a growth rate of 27.91%.

Furthermore, National bank of ranked fifth, after its total individual loans portfolio rose to EGP 200 billion pounds at the end of September 2022, compared to 159.3 billion pounds at the end of December 2021, with a growth rate of 25.54%.  Such growth is considered the highest in value among other banks maintaining its place as the largest lender in the Egyptian banking sector

It was followed by Al Ahli Bank of Kuwait Egypt with a growth rate of 25.30 % during the same period. Whereas, its individual loans portfolio rose to 11.52 Egyptian pounds at 9M-22 compared to EGP 9.19 billion in at the end of 2021.

However, the Housing and Development bank was ranked the sixth among other banks bringing its total individual loans to EGP 20.27 billion at the end of last September, compared to EGP 16.45 billion at the end of December 2021, with growth rate of 23.21%.

The figures included in the list are according to the independent financial results announced for each bank by the end of September 2022.