Financial Performance of Banque Du, United Bank, Arab African Bank before listing on EGX

The Prime Minister of Egypt,  Mostafa Madbouly, announced that the government plans to offer 3 banks on either on the Egyptian Stock Exchange or to a strategic investor, before the end of the first quarter of 2024. These banks included Banque du Caire, Arab African International Bank, The United Bank

Banque du caire:

It is considered to be the largest of the three banks scheduled to be offered, in terms of assets portfolio, which reached 296.87 billion pounds by the end of September 2022, occupying the fifth position among all banks operating in Egypt followeing NBE, Banque Misr, CIB Egypt, Qnb Alahli Bank.

Banque Misr owns approximately 100% of Banque du Caire, through the investment arm of Banque Misr, Misr Capital.

Banque Du Caire has witnessed sturdy financial performance over the past years, especially after the restructuring process that the bank implemented under the leadership of Tarek Fayed, Chairman of the Board of Directors of the Bank since the beginning of 2018.

The bank achieved net profits of 2.9 billion pounds in the first 9 months of 2022, compared to 2.7 billion in the same period of 2021, while the bank’s loan portfolio recorded 123.85 billion pounds at the end of September 2022, and the bank’s deposit portfolio recorded 235.84 billion at the end of the same period.

The bank acquires a market share of 2.74% of the total assets of the banking sector by the end of September 2022, and shares of 3.01% and 3.42% in each of the sector’s deposits and loans portfolios, respectively.

Arab African International Bank:

It is considered the second largest bank to be offered coming after Banque du Caire ranking the sixth among the largest banks operating in Egypt, with a portfolio of EGP 278.47 billion by the end of September 2022.

The Arab African International Bank is jointly owned by the governments of Egypt and Kuwait, where Egypt owns 50% of the bank’s capital through the Egyptian government, while Kuwait owns the remaining percentage through the Kuwait Investment Authority.

The bank achieved strong financial results during the past year 2022, as it recorded a net profit of 2.92 pounds during the first 9 months of 2022, compared to 1.71 billion pounds during the same period in 2021.

While the bank’s loan portfolio recorded EGP 108.22 billion at the end of September 2022, the bank’s deposit portfolio reached EGP 199.38 billion at the end of the same period.

The bank acquires a market share of 2.57% of the total assets of the by the end of September 2022, and shares of 2.54% and 2.99% in each of the sector’s deposits and loans portfolios, respectively.

The United Bank:

It is the third largest bank to be offered within the category of small and medium banks in the Egyptian market, with a portfolio of 75 billion pounds at the end of 2022, according to previous remarks by the bank’s president, Ashraf El-Kady.

The Central Bank of Egypt owns; The United Bank in full, and negotiations have already taken place over the sale of a controlling share during the past months, but the completion of the sale process has not been completed yet.

The bank achieves net profits of one billion pounds annually, and according to the latest announced financial statements, it recorded 1.1 billion pounds in 2021, and the bank’s loan portfolio reached 25 billion pounds, and deposits are 50 billion pounds, according to 2022 data, which was made by the president of The United Bank in previous statements. .

The bank has a market share of approximately 0.7% of the total assets of the banking sector, while its share reached 0.64% and 0.7% in the deposits and loans markets, respectively.