Islamic banks' Deposits Grow by 14.68%, record EGP 295.79 bn by the end of 2022
Islamic banks (ADIB Egypt, Faisal Bank, and alBaraka Bank) were able to jump in their deposit portfolio by 14.68%, to record EGP295.79 bn at the end of 2022, compared to EGP 257.93 bn at the end of 2021, an increase of EGP37.86 bn
Abu Dhabi Islamic Bank was the fastest growing in deposits, as its portfolio jumped to EGP97.74 bn by the end of 2022, compared to EGP75.80 bn by the end of 2021, achieving a growth rate of 28.94%, and an increase of EGP 21.94 bn.
Moreover, Savings pool and Savings certificates at Faisal Islamic Bank increased from EGP 109.6 bn at the end of December 2021 to EGP123.6 bn at the end of December 2022, achieving a growth rate of 12.84%, and an increase of EGP 14.1 bn.
Deposit portfolio of alBaraka Bank increased by a growth rate of 2.55% over the past year, after the bank was able to increase its deposits by EGP 1.851 bn, to record EGP 74.420 bn at the end of December 2022, compared to EGP72.569 bn at the end of December 2021.
