NBE, SC Bank, and BANK NXT are the fastest-growing banks in financing over the last 3 years

NBE tops the list, achieving the highest growth rate, the largest increase in value, and the largest financing portfolio.

Noticeable outperformance of private-sector banks with 9 seats among the top 10 fastest-growing banks compared to one seat for state-owned banks.

Arab banking groups lead the financing-growth race and capture half of the fastest-growing positions.

Faisal Islamic Bank records the lowest growth in its financing portfolio over the last 3 years, in a clear reflection of its limited credit expansion.

The First Bank list of the fastest-growing banks in financing over the past 3 years revealed that the National Bank of Egypt «NBE» ranked first with a compound annual growth rate of 49.9%, recording the largest increase in financing and the highest financing portfolio among Egyptian banks, as its portfolio rose to EGP 3.95 trillion by the end of 2024, compared to EGP 1.17 trillion at the end of 2021, with a total increase of EGP 2.78 trillion, thereby reaffirming its absolute leadership in the Egyptian banking sector.

The second place was secured by Suez Canal Bank «SC Bank» with 45.5%, while BANK NXT ranked third with a growth rate of 42.2% during the same period.

The classification covered 26 banks operating in the Egyptian banking sector for which financial data were available for the last 3 years, and it is noteworthy that ABC and FABMISR achieved growth rates of 75.5% and 72.1% over the last 3 years as a result of acquisition transactions, and they were excluded from the ranking for comparison accuracy.

The ranking showed the outperformance of private-sector banks, which captured 9 out of the 10 fastest-growing positions in financing over the last 3 years, compared to only one seat for state-owned banks.

The ranking of private banks among the top 10 fastest-growing in financing during the period under review was as follows:

National Bank of Egypt «NBE», Suez Canal Bank «SC Bank», BANK NXT, Al Ahli Bank of Kuwait-Egypt «ABK-Egypt», National Bank of Kuwait-Egypt «NBK-Egypt», Al Baraka Bank, Attijariwafa Bank Egypt, Abu Dhabi Commercial Bank-Egypt «ADCB-Egypt», AIB, Commercial International Bank «CIB», while the only seat for state-owned banks was held by the National Bank of Egypt.

At the level of Islamic banks, Al Baraka Bank topped the list with a growth rate of 35.8% over the last 3 years, as its total customer loans increased to EGP 60.60 billion by the end of 2024, compared to EGP 24.21 billion by the end of 2021.

The data also showed strong performance from Arab banking groups operating in Egypt, as they captured half of the top 10 fastest-growing banks in financing over the last 3 years: Al Ahli Bank of Kuwait – Egypt, National Bank of Kuwait – Egypt, Al Baraka Bank, Attijariwafa Bank Egypt, Abu Dhabi Commercial Bank, while the other banks were absent from the top 10 positions.

In contrast, Faisal Islamic Bank of Egypt recorded the lowest growth in its financing portfolio over the last 3 years, with a weak growth rate of 10.2% only, clearly reflecting its limited credit expansion and its weak ability to compete in the market.