aiBank, ADCB Egypt, Ahli United fastest growing banks in terms of loans in 9M-22

The Arab Investment Bank- aiBank Egypt topped First Bank list of fastest growing banks in terms of loans during the first 9 months of 2022

The bank’s total loans posted EGP 20.7 billion at the end of September 2022, compared to EGP 11.3 billion at the end of 2021, with a growth rate of 83.20%.

First Bank’s list of fastest growing banks in total loans portfolio in 9M included 22 banks

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

Abu Dhabi Commercial Bank-ADCB Egypt came in second place with a growth rate of 35/02%, bringing total customer loans to EGP 30.1 billion s at the end of September 2022, compared to EGP 22.3 billion at the end of December 2021.

Ahli United Bank-Egypt came in third place, with a growth rate 30.4 % during 9M. Its total loans portfolio recorded EGP 50.5 billion at the end of December 2021 while increasing to 24.3 billion at the end of September 2022.

In addition, Bank alBaraka was in fourth place; as its total loans portfolio jumped to EGP 31.2 billion pounds at the end of September 2022, compared to 24.3 billion at the end of 2021.with a growth rate of 28.72%.

Furthermore, Housing and Development Bank ranked fifth, after its loans portfolio rose to EGP 34 billion at the end of September 2022, compared to EGP 27 billion at the end of December 2021, with a growth rate of 25.68%.

It was followed by National Bank of Egypt with a growth rate of 24.28% during the same period. Thus, its loans portfolio rose to EGP 1.460 trillion at the end of September 2022, compared to EGP1.174 trillion at the end of December 2021,

However, Attijariwafa Bank ranked the eighth among other banks bringing its total loans portfolio to EGP 29.7 billion at the end of last September, compared to EGP 24 billion at the end of December 2021, with growth rate of 23.84%. It was followed by CIB Egypt and SAIB with growth rates of 21.39% and 21.05%, respectively, during the same period.

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