«The Big Numbers Race»: Fierce competition between «Standard Bank» and «National Bank of Egypt» for the title of «Africa’s Largest Bank»

In a banking world that knows no stillness—where numbers turn into a language of influence, and financial indicators become a true mirror of power and impact—«First Bank» has launched a weekly segment published every Wednesday morning through its newsletter under the title «The Big Numbers Race», aiming to spotlight the most prominent banking showdowns across Arab, African, and global markets.

The segment goes beyond mere numerical comparisons, offering an in-depth reading of the banking power map to reveal who is advancing—and who is rewriting the rules of the game.

The first episode of «The Big Numbers Race» kicks off by examining the heated competition for leadership of the African banking sector, between «Standard Bank Group», which currently ranks first across the continent, and «National Bank of Egypt», which comes in second as the closest challenger to the top position. The latter is supported by a broad asset base and strong operational momentum that continuously enables it to narrow the gap with the market leader.

This analysis is based on first-half 2025 data, as the most recent financial period consistently available for both banks, ensuring fairness and accuracy in comparison, despite the availability of more recent data for the National Bank of Egypt.

At the asset level, the portfolio of «Standard Bank Group» reached approximately USD 192.24 bn by end-June 2025, compared to USD 175.46 bn for the National Bank of Egypt during the same period.

In terms of deposits, «Standard Bank Group» recorded a deposit portfolio of around USD 125.99 bn by end-June 2025, versus USD 109.89 bn for «National Bank of Egypt» at the same date.

On the credit front, net loans of «Standard Bank Group» amounted to approximately USD 93.56 bn by end-June 2025, compared with USD 84.69 bn for the National Bank of Egypt over the same period.

When examining growth trends over the past three years—specifically from end-2022 through end-June 2025—«Standard Bank Group» demonstrates superior overall asset growth, recording an increase of approximately 13.1%, compared with a slight decline of around 0.6% for «National Bank of Egypt» over the same period.

This gap reflects the faster growth pace achieved by «Standard Bank Group», which contributed to widening the distance between the two banks and reinforcing its ascent to the top of the African banking sector, at the expense of the National Bank of Egypt—although the gap remains at levels that could be breached should the latter accelerate its growth momentum.

It is worth noting that sharp fluctuations in foreign exchange rates against the Egyptian pound over recent years played a role in favoring the growth performance of the South African bank, which benefited from relative stability in its local currency compared to other currencies.

At the deposit level during the same period, «Standard Bank Group» continued to outperform in terms of overall growth, with its deposit portfolio increasing by approximately 13.2%, compared to a decline of 15.6% for the National Bank of Egypt over the past three years.

In contrast, on the lending side, «National Bank of Egypt» delivered stronger performance, achieving total growth in net loans of approximately 25.9% during the analysis period, compared with growth of 5.5% for «Standard Bank Group», reflecting a clearer acceleration in the credit expansion pace of the National Bank of Egypt.

Regarding profitability, «Standard Bank Group» recorded net profits of approximately USD 1.54 bn during the first half of 2025, with a return on average assets (ROAA) of around 1.7%, and a return on average equity (ROAE) of 18.91% during the same period.

By comparison, the National Bank of Egypt posted net profits of approximately USD 1.89 bn during the first half of 2025, while recording a return on average assets of about 2.25%, and a return on average equity of around 32.67%, reflecting relatively higher profitability levels.

The above financial indicators confirm that «Standard Bank Group» currently leads the African banking sector, supported by sustained growth across its core financial portfolios and the stability of its local currency against the US dollar.

Meanwhile, the National Bank of Egypt experienced a setback in its leadership position due to sharp exchange-rate volatility over the past three years, which negatively affected its performance. Notably, with the renewed stabilization of the exchange rate in Egypt, the National Bank of Egypt is expected to make a strong comeback toward reclaiming leadership of the African banking sector during the current year—particularly given the close proximity of financial indicators between the two banks and the faster growth pace of the National Bank of Egypt in local-currency terms.