ADCB, Egypt’s Housing bank fastest growing banks in terms of assets in 9M-22

ADCB-Egypt tops First Bank’s list with 51.6% growth rate

Abu Dhabi Commercial International Bank-Egypt topped First Bank list of fastest growing banks in terms of assets during the first 9 months of 2022. The bank’s total assets portfolio posted EGP 73.3 billion at the end of September 2022, compared to EGP48.4 billion at the end of 2021 with a growth rate of 51.57%.

First Bank’s list of fastest growing banks in terms of assets in 9M included 18 banks

First bank analyses the total assets of 18 banks with available financial statements operating in the Egyptian banking sector and came up with a list of fastest growing banks in terms of assets in 9M-22. The analysis revealed that all banks recorded positive growth rates in terms of asset portfolio during the period from January to September 2022.

Egypt’s Housing and Development came in second place, after its asset portfolio jumped by 34.16% generating EGP 102.3 billion at the end of last September, compared to EGP76.3 billion at the end of 2021.

Attijariwafabank-Egypt came in third place, with a growth rate of 26.74%, after its total assets increased from EGP 46.5 billion the end of December 2021, to EGP59 billion by the end of September 2022.

In addition, Ahli United Bank was in fourth place; as its total assets jumped to EGP 80 billion at the end of September 2022, compared to EGP 64.3 billion at the end of 2021 with a growth rate of 24.55%.

Furthermore, Banque Misr ranked fifth, with a growth rate of 24.51%, as the bank’s total asset portfolio increased to EGP1.96 trillion at the end of September 2022, compared to EGP 1.58 trillion at the end of December 2021.

However, QNB Al Ahli ranked sixth, with a growth rate of 24.47%, as the bank’s total asset portfolio increased to EGP441 billion at the end of September 2022, compared to EGP 354.2 billion at the end of December 2021.

Commercial International Bank(CIB) ranked seventh, with a growth rate of 18.87% during the first 9 months of 2022, bringing the total assets of the bank from EGP 496.7 billion at the end of December 2021, to EGP 590.4 billion at the end of September 2022.

Moreover, SAIB Egypt ranked eighth with a growth rate of 17.43% as its total assets generated EGP 83.8 billion at the end of September 2022, compared to EGP 71.4 billion at the end of December 2021.

Suez Canal Bank was ranked the ninth among other banks with a growth rate of 16.42%. The Bank’s total assets of stood at EGP 67 billion at the end of September 2022, compared to EGP 57.4 billion at the end of December 2021. It was followed by Banque du Caire at a rate of 16.26% during the same period.

All figures and growth rates mentioned in the above analysis are according to the separated financial statements published on the official website of each bank at the end of September 30, 2022.