EGX bank stocks broadly rise on Thursday, three decline
Kerolous Marzouk
Thursday’s trading session on the Egyptian Exchange (EGX) saw most listed bank stocks close higher, with eight gaining, three declining and one unchanged.
Faisal Islamic Bank of Egypt’s EGP-denominated shares led the gainers, rising 6.1 per cent to close at EGP 42.44, compared to EGP 40 at the start of trading. The Egyptian Gulf Bank came in second, gaining 3.4 per cent to close at USD 0.548, compared to USD 0.53 at the beginning of the session.
Housing and Development Bank (HDB) rose 3.26 per cent to close at EGP 92.42, compared to EGP 89.50 at the start of the session, followed by The United Bank, which gained 1.03 per cent to close at EGP 14.65, compared to EGP 14.50 at the opening.
QNB Egypt also rose 0.89 per cent to close at EGP 60.10, compared to an opening price of EGP 59.57, while Commercial International Bank (CIB) gained 0.74 per cent to close at EGP 137, compared to EGP 136 at the opening.
Crédit Agricole Egypt rose 0.29 per cent to close at EGP 24.58, compared to EGP 24.51 at the opening, followed by Al Baraka Bank, which edged up 0.04 per cent to close at EGP 24.50, compared to EGP 24.49 at the opening.
Faisal Islamic Bank’s dollar-denominated shares remained unchanged at USD 0.99 at the close of trading, the same as the opening price.
On the decliners’ side, Abu Dhabi Islamic Bank – Egypt (ADIB) fell 0.82 per cent to close at EGP 53.42, compared to an opening price of EGP 53.86, while Suez Canal Bank declined 1.47 per cent to close at EGP 41.63, compared to EGP 42.25 at the opening.
Export Development Bank of Egypt recorded the steepest decline, falling 3.58 per cent to close at EGP 20.21, compared to an opening price of EGP 20.96.
| Rank | Bank Name | Opening Price | Closing Price | Change (%) |
|---|---|---|---|---|
| 1 |  Faisal Islamic Bank of Egypt (EGP) | 40 | 42.44 | 6.10% |
| 2 |  EGBANK | 0.53 | 0.548 | 3.40% |
| 3 |  Housing and Development Bank (HDB) | 89.5 | 92.42 | 3.26% |
| 4 |  United Bank of Egypt | 14.5 | 14.65 | 1.03% |
| 5 |  Qatar National Bank-QNB | 59.57 | 60.1 | 0.89% |
| 6 |  Commercial International Bank (CIB) | 136 | 137 | 0.74% |
| 7 |  Credit Agricole Egypt | 24.51 | 24.58 | 0.29% |
| 8 |  alBaraka Bank Egypt | 24.49 | 24.5 | 0.04% |
| 9 |  Abu Dhabi Islamic Bank-ADIB Egypt | 53.86 | 53.42 | -0.82% |
| 10 |  Suez Canal Bank | 42.25 | 41.63 | -1.47% |
| 11 |  Export Development Bank of Egypt (Ebank) | 20.96 | 20.21 | -3.58% |
| 12 | Faisal Islamic Bank of Egypt (USD) | 0.99 | 0.99 | 0.00% |
