EBank, AAIB, ADIB Egypt were fastest growing banks in shareholders’ equity at 9M-22

Export and Development Bank (Ebank) topped First Bank list of fastest growing banks in terms of shareholders’ equity during the first 9 months of 2022. The bank’s shareholders’ equity posted EGP 9.21 billion at the end of September 2022, compared to EGP 6.69 billion at the end of 2021 with a growth rate of 37.67%.

First bank rating list included 22 banks with available shareholders’ equity data at 9M-22

First bank rating list, which included 22 banks operating in the Egyptian banking sector, revealed that 19 banks recorded positive growth rates in terms of shareholders’ equity during the period from January to September 2022. However, three banks recorded a decline in shareholders’ equity ratio during the same period.

Owner’s equity or shareholders’ Equity is referred to as the rights of the owners in the assets of the business. The term is most appropriately used in case of a sole proprietorship business, but it can be known as stockholders equity or shareholders equity in case the business is structured as an LLC or a corporation.

It is recorded in the balance sheet at the end of an accounting period. It is obtained as the difference between the total assets and liabilities. Assets are shown on the left hand of the balance sheet while the liabilities and owners’ equity is placed on the right hand side of the balance sheet.

Owner’s equity is represented as a net amount on the balance sheet as apart from contributing capital towards the business, owners can withdraw some amount

Arab African International Bank was ranked the second with a growth rate of 26.02%. Its shareholders’ equity increased to EGP 42.48 billion at the end of September 2022, compared to  EGP 33.71 billion at the end of December 2021.

Abu Dhabi Islamic Bank- ADIB Egypt came in third place, with growth rate of 24.08%.  The bank’s equity increased to EGP 8.02 billion pounds at the end of September 2022 in comparison to EGP 6.46 billion at the end of December 2021.

alBaraka Bank Egypt was in fourth place with a growth rate of 17.72% during the first 9 months of last year.  its shareholder equity portfolio increased to  EGP 7.07 billion  atthe end of September 2022, compared to EGP 6 billion at the end of December 2021.

Furthermore, Al Ahli Bank of Kuwait – Egypt (ABK – Egypt) managed to  be ranked in the fifth place with a growth rate of 16.88%, after it succeeded in increasing its equity portfolio to EGP 5.61 billion at the end of September 2022, compared to EGP 4.80 billion at the end of December 2021.

Suez Canal Bank ranked sixth with a growth rate of 16.68% during the first 9 months of last year. Its equity portfolio recorded EGP 5.13 billion at the end of September 2022, compared to EGP 4.40 billion at the end of December 2021. It was followed by Banque du Caire with a growth rate of 15.57% during the same period.

SAIB Bank came in eighth place, with a growth rate of 15.26%, after its equity portfolio recorded EGP 6.36 billion at the end of September 2022, compared to EGP 5.82 billion at the end of December 2021.

The National Bank of Egypt managed to be ranked the ninth among the 10 fastest growing banks in terms of shareholder equity; after its total portfolio increased to EGP 207.5 billion at the end of September 2022, compared to EGP 182.2 billion at the end of December 2021. It was followed by the Ahli United Bank- AUB Egypt with a growth rate of 8.65% during the same period of 2021.

All figures and values mentioned in the above list are according to the independent financial statements announced for each bank at the end of September 2022.