Egypt’s Housing Bank, Bank alBaraka, AAIB, Banque Du Caire among fastest growing banks in syndicated loans

Egypt’s Housing and Development Bank topped First Bank list of fastest growing banks in terms of syndicated loans during the first 9 months of 2022 after its syndicated loans portfolio grown by 44.8%.

HDB’s syndicated loan portfolio recorded 1.87 billion Egyptian pounds at the end of September 2022, while total loans to customers 1.29 billion Egyptian pounds.

First Bank has made up a list that goes through syndicated loans portfolio in 21 banks operating in the Egyptian banking sector, for which data was available during the analysis period. The list is based on the criterion of syndicated loans to total customer loans. The analysis revealed that only 13 banks have seen positive rates in terms of their syndicated loans. Yet, 8 banks have witnessed a decline in terms of the growth of their syndicated loans portfolios at the end of September.

Furthermore, al Baraka Bank - Egypt ranked second among other banks with a growth rate of 31.78%. The bank's syndicated loan portfolio recorded 4.05 billion pounds at the end of September 2022, compared to 3.07 billion at the end of December 2021.

Moreover, AAIB came third after its joint loan portfolio increased by 19.52% during the first 9 months of last year, to record 33.9 billion pounds at the end of September 2022, compared to 28.4 billion at the end of December 2021.

As for the fourth place, it was occupied by Banque du Caire, with a growth rate of 19.37% during the first 9 months of last year, bringing its total syndicated loans portfolio to 17.4 billion pounds by the end of September 2022, compared to 14.6 billion by the end of December 2021.

Banque Misr ranked fifth with a growth rate of 18.96%, after the bank’s syndicated loan portfolio moved from EGP 167.6 billion at the end of December 2021, to record EGP 199.3 billion at the end of September 2022, followed by QNB Al Ahli Bank in sixth place, at a rate of 18.93% during the same period.

However, SAIB Bank ranked seventh, with a growth rate of 17.70% during the first 9 months of last year, its syndicated loan portfolio recorded about 11.04 billion pounds at the end of September 2022, compared to 9.38 billion at the end of December 2022.

While NBE was ranked the eighth at a rate of 11.93%, its syndicated loan portfolio moved from 213 billion pounds at the end of December 2021, to 238.4 billion at the end of September 2022, followed by aiBANK and ADIB at rates of 11.57% and 11.46% during the same period.

All the values and growth rates mentioned in the above analysis are according to the separated financial statements announced on the official website of each bank at the end of the fiscal period ending in September 2022.