ABC, FABMISR, and AIB Lead the Ranking of Fastest-Growing Banks in Net Profits Over the Past Three Years

«ABC» Tops First Bank Ranking of Fastest-Growing Banks in Net Profits Over the Past Three Years… «FABMISR» Comes Second

The private sector secures 8 out of the Top 10 spots for the fastest-growing banks in net profits over the last three years, compared to just two seats for state-owned banks.

Gulf banks deliver strong profit performance in Egypt, capturing 4 seats among the Top 10 fastest-growing banks, while other foreign banks are entirely absent.

NBE, Banque Misr, CIB, QNB, and FABMISR are the most profitable banks, collectively accounting for 62.21% of the sector’s total profits.

EGP 949 billion is the combined net profit of the Egyptian banking sector over the past three years, with 2024 marking an all-time high at EGP 534.85 billion.

EBank leads state-owned peers, while ADIB – Egypt heads Islamic banks' profit growth rankings.

The First Bank Ranking of the fastest-growing banks in net profits over the past three years revealed that ABC Bank Egypt topped the list after its net profits surged at an average growth rate of 736.8%, FABMISR came in second with an average growth rate of 203.6%, followed by the Arab International Bank (AIB) in third place with 127.1% average growth during the same period.

The ranking covered 28 banks operating within the Egyptian banking system, for which financial data was available for the past three years—2024, 2023, and 2022. Banks were evaluated based on the average annual growth rate of net profits across this period.

The results highlighted the strong performance of private-sector banks, which secured 8 out of the Top 10 spots for profit growth, compared to just 2 positions for state-owned banks.

Private-sector banks that made the list include: «ABC», «FABMISR», Arab International Bank, «Emirates NBD», Suez Canal Bank, «BANK NXT», «ABK – Egypt», and AIB, Meanwhile, the state-owned seats were secured by EBank and Housing & Development Bank.

This trend reflects a notable market shift, underscoring the private sector’s ability to enhance profitability, diversify revenue streams, and navigate economic pressures and exchange-rate volatility more efficiently.

On the profitability front, the highest net earners over the past three years were: NBE, Banque Misr, CIB, QNB Egypt, and FABMISR, with a combined profit of EGP 590.45 billion, These five banks alone captured 62.21% of the total sector profits, which reached EGP 949.08 billion.

2024 recorded the sector’s highest profit level ever, at EGP 534.85 billion, compared to EGP 283.39 billion in 2023 and EGP 130.84 billion in 2022.

Among state-owned banks, EBank ranked first and fourth overall, with an average profit growth of 121.6%. The bank posted net profits of EGP 5.18 billion in 2024, EGP 3.12 billion in 2023, and EGP 1.23 billion in 2022.

Within the Islamic banking segment, ADIB – Egypt led with 87.3% average growth, recording net profits of EGP 2.13 billion in 2022, EGP 4.49 billion in 2023, and EGP 8.83 billion in 2024, placing it 12th overall.

The data also revealed strong performance among Gulf-origin banks, which secured 4 of the Top 10 positions: ABC Egypt, FABMISR, Emirates NBD Egypt, and Al Ahli Bank of Kuwait – Egypt. Conversely, non-Gulf foreign banks completely missed the Top 10.

Only 7 banks outperformed the sector’s average profit growth of 109.3%, while 21 banks recorded lower growth rates. This indicates a growth imbalance, where a small group achieved extraordinary results, outpacing most other banks.

It is noteworthy that the acquisition deals executed by ABC and FABMISR in 2022 had a significant impact on their profit growth rates, playing a key role in propelling both banks to the top of the rankings.