ABK Egypt, ADIB Egypt, Housing Bank, CIB Egypt among top 10 banks in ROE at 9M

First Bank list of most efficient banks operating in Egypt in terms of Return on Average Equity (ROE) revealed that Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) topped the list, with ROE of 24.29% during the first 9 months of 2022.

The main reason behind such percentage was that the bank has achieved a leap in its profits, exceeding the one billion mark for the first time, recording EGP 1.262 billion during the first 9 months of last year.

The list revealed that all banks achieved positive rates of ROE due to the success of these banks in achieving net profits at varying levels and that none of these banks incured losses during the financial period from January to September of 2022

ROE shows the ability of banks to invest its shareholders' equity in achieving appropriate levels of profitability during the period under analysis.

Abu Dhabi Islamic Bank took second place with ROE of 21.29% during the first 9 months of last year, followed by alBaraka Bank - Egypt in third place after it achieved ROE of 19.20% during the same period.

Housing and Development Bank ranked fourth with 18.45% during the first 9 months of last year, as the bank achieved net profits of 1.753 billion pounds during the same period.

Commercial International Bank-CIB Egypt came in fifth place, after achieving 18.29% during the period from January to September 2022, while Credit Agricole Bank – Egypt ranked sixth, with 18.20% during the same period.

Suez Canal Bank ranked seventh, after achieving 15.41%, followed by QNB Al Ahli Bank which occupied the eighth place with ROE OF 14.82% during the first 9 months of 2022.

ALexBank came in ninth place with 14.79% during the first 9 months of last year, followed by Ahli United Bank with 14.70% during the same period.

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