HDB, NBE, AAIB, ABK-Egypt, SC Bank are fastest growing banks in individual deposits

FirstBank list of fastest growing banks in terms of individual deposits during the first 9 months of 2022 revealed that the Housing and Development Bank topped the list with a growth rate of 23.05%.

Thus, the bank’s individual deposit portfolio increased to 27.6 billion pounds at the end of September 2022, compared to 22.4 billion at the end of December 2021. 

The list monitored the individual deposits portfolio with 21 banks operating in the Egyptian banking sector. It revealed that 17 banks achieved positive growth rates in their individual deposits, while 4 banks achieved a decline in their individual deposits during the first 9 months of the past year.

The National Bank of Egypt was ranked in the second place, after its individual deposit portfolio jumped at a growth rate of 20.91% during the first 9 months of last year, to record 2.234 trillion pounds at the end of September 2022, compared to 1.847 trillion at the end of December 2021.

The Arab African Bank came in third place, after its individual deposits portfolio increased by a growth rate of 16.32%, to move from EGP 56.3 billion at the end of December 2021 to EGP 65.5 billion at the end of September 2022.

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) was ranked fourth, after it achieved a growth rate of 9.74% during the first 9 months of last year.Thus, its total individual deposit portfolio reached 15.7 billion pounds by the end of September 2022, compared to 14.3 billion pounds by the end of December 2021.

The Suez Canal Bank ranked fifth, with a growth rate of 9.60%, after the total deposits of individuals in the bank rose to 12.3 billion pounds at the end of September 2022, compared to 11.2 billion at the end of December 2021.

Abu Dhabi Commercial Bank of Egypt came sixth, with a growth rate of 8.77% during the first 9 months of last year, after its individual deposits portfolio increased to 11.3 billion pounds at the end of September 2022, compared to 10.4 billion at the end of December 2021. It was followed by the Export Development Bank of Egypt, with a growth rate of 7.7% during the same period.

CIB Egypt was the eighth with a growth rate of 7.40%, after its individual deposit portfolio recorded EGP 243 billion at the end of September 2022, compared to EGP 226.2 billion at the end of December 2021. It was followed by Attijariwafa and QNB Al Ahli banks, with growth rates of 6.62% and 6.61% respectively during the first 9 months of last year.

It should be noted that all values ​​and growth rates mentioned in the above analysis are according to the separated financial statements announced for each bank at the end of September 2022.