Asset race intensifies as four banks battle for position among Egypt’s largest

Translated & Edited. by Aya Elsayed

The narrow gaps separating banks no longer tell the full story of their competitive positions. First-half 2026 results revealed significant differences in the pace of expansion, with some banks rapidly closing in on their competitors while others recorded more modest growth.

At end-June 2026, Attijariwafa bank Egypt ranked 23rd among banks operating in Egypt, with total assets of EGP 159.29bn.

Crédit Agricole Egypt followed closely in 24th place with EGP 159.08bn, while Egyptian Gulf Bank (EGBANK) ranked 25th with EGP 155.03bn. Al Baraka Bank Egypt occupied 26th place, with assets of EGP 151.60bn.

A comparison with end-2025 figures reveals a sharper divergence in growth rates. Attijariwafa bank Egypt’s assets rose 2.8 per cent during the first half of 2026 to EGP 159.29bn, from EGP 154.92bn at end-2025, an increase of EGP 4.37bn.

Crédit Agricole Egypt expanded at a faster pace, with assets rising 9.2 per cent to EGP 159.08bn, from EGP 145.64bn at end-2025, adding EGP 13.44bn to its balance sheet.

EGBANK recorded the fastest asset growth among the four banks, with a 9.8 per cent increase to EGP 155.03bn at end-June 2026, from EGP 141.24bn at end-2025, an addition of EGP 13.79bn.

Al Baraka Bank Egypt, meanwhile, reported asset growth of 3.9 per cent to EGP 151.60bn, from EGP 145.89bn at end-2025, an increase of EGP 5.72bn.

The differences in expansion were equally evident in absolute terms. Crédit Agricole Egypt and EGBANK each added more than EGP 13bn to their asset bases in just six months, substantially outpacing the increases recorded by Attijariwafa bank Egypt and Al Baraka Bank Egypt.

These contrasting growth rates narrowed the gaps between the banks, particularly Attijariwafa bank Egypt and Crédit Agricole Egypt, whose assets were separated by just EGP 210mn at end-June 2026.

Over a longer horizon, however, compound annual growth rates (CAGRs) between end-2022 and end-June 2026 reveal a different picture. Attijariwafa bank Egypt recorded the highest CAGR at approximately 31.1 per cent, followed by Crédit Agricole Egypt at 23.9 per cent, EGBANK at 18 per cent and Al Baraka Bank Egypt at 17.1 per cent.

The comparison highlights the divergence between recent performance and longer-term growth. Despite recording the highest CAGR over the three-and-a-half-year period, Attijariwafa bank Egypt posted the slowest asset growth among the four banks during the first half of 2026.

Assuming first-half growth rates continue at the same pace during the second half of 2026, Crédit Agricole Egypt’s assets could reach approximately EGP 173.76bn at year-end, followed by EGBANK at EGP 170.17bn, Attijariwafa bank Egypt at EGP 163.78bn and Al Baraka Bank Egypt at EGP 157.54bn.

Under this scenario, Crédit Agricole Egypt and EGBANK would both move ahead of Attijariwafa bank Egypt by total assets, leaving Al Baraka Bank Egypt in fourth place among the four institutions.

These figures represent a hypothetical scenario based on unchanged first-half growth rates, rather than definitive year-end forecasts.

The banks’ eventual positions will depend on their asset growth during the second half of 2026 and whether the current differences in expansion rates persist.