«BANK NXT», «Al Baraka», and «ADCB» are the fastest-growing banks in credit card balances over the past 3 years

«BANK NXT» tops the list of the fastest-growing banks in credit card balances over the past 3 years, with «Al Baraka» in second place

The private sector leads.. 6 private banks among the fastest 10 growing banks versus 4 seats for public banks

Arab banking groups strengthen their presence, securing 4 seats among the fastest 10 growing banks

Islamic banks capture only one seat among the top ten

The National Bank of Egypt consolidates its leadership in the sector, achieving the largest portfolio size and the highest increase over the past 3 years

The «First Bank» list of the fastest-growing banks in credit card balances over the past three years revealed that BANK NXT topped the list, with its credit card balances recording a compound annual growth rate (CAGR) of 158.6%, reaching EGP 392.63 million by the end of 2024, compared to EGP 22.71 million at the end of 2021.

Al Baraka Bank came in second place, with credit card balances growing at 113.2% to reach EGP 243.04 million by the end of 2024, compared to EGP 25.08 million at the end of 2021, making it the only Islamic bank to appear among the top ten fastest-growing banks.

Abu Dhabi Commercial Bank–Egypt «ADCB» ranked third after its credit card balances increased by around 110%, reaching EGP 550.05 million by the end of 2024, compared to EGP 59.40 million at the end of 2021.

The ranking included 25 banks operating in the Egyptian banking sector for which financial data were available over the past three years. It is worth noting that ABC Bank and FABMISR achieved growth rates of 62.7% and 26.4%, respectively, over the past three years due to acquisition transactions; they were therefore excluded from the ranking to ensure accuracy and comparability.

The ranking showed the private sector in the lead, with private banks securing 6 seats among the fastest 10 growing banks: BANK NXT, Al Baraka, ADCB, Kuwait Finance House–Egypt, Arab African International Bank, and National Bank of Kuwait–Egypt.

At the level of public banks, they captured 4 positions among the fastest 10 growing banks, with EBank taking fourth place, Banque Misr ranking seventh, Banque du Caire eighth, and Housing and Development Bank tenth.

The data also highlighted strong performance by Arab banking groups operating in Egypt, which secured 4 seats among the fastest 10 growing banks in credit card balances over the past three years: Al Baraka, ADCB, Kuwait Finance House–Egypt, and National Bank of Kuwait–Egypt.

On the other hand, the National Bank of Egypt recorded the largest portfolio size and the highest absolute increase during the period under review, despite not appearing among the top ten fastest-growing banks. Its credit card portfolio increased by approximately EGP 16.29 billion over the past three years, reaching EGP 24.99 billion by the end of 2024, compared to EGP 8.70 billion at the end of 2021.