NBK-Egypt, EBank, and Crédit Agricole are the fastest-growing banks in mortgage financing over the past three years

National Bank of Kuwait is the fastest-growing bank in mortgage financing over the past 3 years… with EBank close behind

Private sector dominates.. 8 private banks among the fastest 10, versus only 2 public banks

Foreign banking groups strengthen their presence.. occupying 4 spots among the fastest 10

Islamic banks secure two positions among the fastest 10 banks

The First Bank list of the fastest-growing banks in mortgage financing over the past three years revealed that National Bank of Kuwait – Egypt «NBK-Egypt» topped the ranking, with its portfolio jumping at a compound annual growth rate (CAGR) of 93.4%, reaching EGP 1.78 billion by the end of 2024, compared to EGP 245.37 million at the end of 2021.

In second place came the Export Development Bank of Egypt «EBank», whose mortgage financing portfolio grew by about 91.7% over the past three years, reaching EGP 1.16 billion by the end of 2024, up from EGP 164.13 million at the end of 2021.

Crédit Agricole Egypt ranked third, with a growth rate of 85% over the same period, as its mortgage financing portfolio rose to EGP 1.48 billion by the end of 2024, compared to EGP 233.57 million at the end of 2021.

The ranking included 20 banks operating in the Egyptian banking sector for which financial data were available over the past three years. It is worth noting that FABMISR achieved a growth rate of 47.2% during this period due to an acquisition process, and was therefore excluded from the ranking to ensure accurate comparison.

The classification confirmed the outperformance of private-sector banks, which dominated 8 seats among the top 10 fastest-growing banks in mortgage financing over the past three years, compared with only two seats for public-sector banks.

The private banks included in the list of the fastest 10 were: NBK-Egypt, Crédit Agricole, Bank NXT, QNB Egypt, Faisal Islamic Bank, Arab African International Bank, Abu Dhabi Islamic Bank, and CIB.

The two public-sector seats went to the Export Development Bank of Egypt «EBank», which ranked second, and Banque du Caire, which came in sixth place among the fastest-growing banks in mortgage financing over the past three years.

The data also showed strong performance by foreign banking groups operating in Egypt, which captured 4 positions among the fastest 10 banks in mortgage financing growth: NBK-Egypt, Crédit Agricole, QNB Egypt, and Abu Dhabi Islamic Bank.

On the other hand, Banque Misr recorded the largest absolute increase during the period under review, despite not appearing among the top 10 fastest-growing banks. Its mortgage financing portfolio rose to EGP 20.97 billion by the end of 2024, compared to EGP 9.43 billion at the end of 2021, achieving a growth rate of 30.5% and a total increase of EGP 11.54 billion.

Meanwhile, the National Bank of Egypt had the largest mortgage portfolio overall, reaching EGP 22.57 billion by the end of 2024, compared to EGP 12.05 billion at the end of 2021, with a growth rate of 23.3% and a total increase of EGP 10.52 billion.

At the level of Islamic banks, Faisal Islamic Bank and Abu Dhabi Islamic Bank appeared among the top 10 fastest-growing banks in mortgage financing over the past three years, while other Islamic banks were absent from the top ten rankings.