ADCB-Egypt is the fastest growing bank in terms of credit cards in 9M-22

ADCB Egypt is a frontrunner in the Egyptian market in terms of credit cards portfolio in 9M:

Abu Dhabi Commercial Bank- ADCB-Egypt topped First Bank list of fastest growing banks in terms of credit cards during the first 9 months of 2022. The bank’s total credit cards portfolio posted EGP112.7 million at the end of September 2022, compared to EGP 59.4 million at the end of 2021 with a growth rate of 89.71%.

First Bank’s list of fastest growing banks in total credit cards portfolio in 9M included 21 banks:

First bank analyses the total credit cards portfolio in 21 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 credit cards portfolio in 9M-22. The analysis revealed that most banks recorded positive growth rates in their credit cards portfolio during the period from January to September 2022. However, one bank of the 21 banks has witnessed a decline in its credit cards portfolio in 9M-22.

Banque Misr came in second place, after its credit cards portfolio jumped by 46.02% generating EGP 3.1 billion at the end of last September, compared to EGP 2.1 billion at the end of 2021.

The Export Development Bank-EBank was ranked the third among other banks, with a growth rate of 43.09%, after its credit card portfolio increased to EGP54.5 million at the end of September 2022, compared to 209 million at the end of December 2021.

The Housing and Development Bank ranked fourth, with a growth rate of 32.43%, after its credit card portfolio increased to EGP 90.5 million pounds at the end of September 2022, compared to 68.4 million pounds at the end of December 2021. In addition,

Furthermore, Arab Investment Bank-aiBank came in fourth place, with a growth rate of 31.42%, as its credit card portfolio increased to EGP 29.8 million at the end of September 2022, compared to EGP 22.7 million at the end of December 2021. It was followed by Banque Du Caire with a growth rate of 30.38% at the same period.

Moreover, the National Bank of Egypt was ranked the ninth among other banks with a growth rate of 25.38% during the first 9 months of 2022, after its credit card portfolio recorded EGP 11 billion at the end of September 2022, compared to EGP 8.7 at the end of December 2021.

All figures and growth rates mentioned in the above analysis are according to the separated financial statements published on the official website of each bank at the end of September 30, 2022.