ADCB-Egypt,Al Baraka Bank , HDB are fastest growing banks in financial investments at 9M-22

FirstBank” list of the fastest growing banks in total financial investments during the first 9 months of 2022 revealed that Abu Dhabi Commercial Bank Egypt topped the list at a rate of 74.31%, after succeeding in increasing its total financial investment portfolio to 28.35 billion pounds by the end of September 2022, compared to 16.26 billion pounds by the end of December 2021.

The list monitored the total financial investments of 22 banks operating in the Egyptian banking sector with available data for the  period under analysis.

It revealed that 18 banks achieved positive growth rates in their financial investment portfolios, while 4 banks achieved a decline during the first 9 months of last year.

Bank alBaraka-Egypt ranked second; after the increase it witnessed in its financial investment portfolio by 48.85% during the first 9 months of last year, to record 30.46 billion pounds at the end of September 2022, compared to 20.46 billion at the end of December 2021.

The Housing and Development Bank ranked third with a growth rate of 43.48% during the first 9 months of last year, after doubling its total financial investment portfolio from EGP 24.39 billion at the end of December 2021 to  EGP 35 billion at the end of September 2022.

It was followed by Attijariwafa and aiBank at rates of 43.41% and 41.21%, during the same period. As for the ninth place, it went to the Suez Canal Bank, with a growth rate of 21.12%, after the financial investments portfolio of the bank increased to 23.16 billion pounds at the end of September 2022, compared to 19.12 billion pounds at the end of December 2021.

It was followed by the Arab African International Bank at a rate of 20.97% during the same period. It should be noted that all the values and growth rates mentioned in the above analysis are according to the separated financial statements announced for each bank at the end of last September.