ADCB Egypt tops the fastest growing Gulf banks operating in Egypt in terms of Assets At 2022
Abu Dhabi Commercial Bank - Egypt topped the list of the fastest growing Gulf banks operating in Egypt in Assets, after the bank achieved a leap in its total Assets at a rate of 78.20% over the past year, to record EGP86.2 bn at the end of December 2022, compared to EGP 48.4 bn at the end of December 2021.
The classification conducted by First Bank, which included 9 Gulf banks operating in the Egyptian banking sector, revealed that they acquired 11.75% of the total financial position of banks operating in the Egyptian banking sector at the end of December 2022, compared to 11.46% at the end of December 2021.
The list revealed that all Gulf banks operating in the Egyptian banking sector achieved a compound growth rate of 35.47% over the past year, bringing the total value of their financial position to EGP 1.34 tn at the end of December 2022, compared to EGP 988.6 bn at the end of December 2021, an increase of EGP 350.7 bn.
First Abu Dhabi Bank - Egypt ranked second on the list at a rate of 55% over the past year, after the total portfolio jumped to EGP206.5 bn at the end of December 2022, compared to EGP133.2 bn at the end of December 2021.
The position acquired by First Abu Dhabi Bank in the list is based on the business results of both First Abu Dhabi Bank and Bank Audi for the fiscal year 2021, compared to the results of First Abu Dhabi Bank Egypt in 2022.
NBK– Egypt came third, with a growth rate of 35.67% over the past year, after its total Assets jumped to record EGP105.1 bn at the end of December 2022, compared to EGP77.5 bn at the end of December 2021, followed by QNB AlAhli at a rate of 34.61% during the same period.
ABK– Egypt ranked fifth with a growth rate of 33.22% over the past year, recording total Assets of EGP 75.6 bn at the end of December 2022, compared to EGP 56.8 bn at the end of December 2021.
Ahli United Bank - Egypt ranked sixth after it achieved a growth in its total asset of 33.04% over the past year, to record EGP 85.5 bn at the end of December 2022, compared to EGP 64.3 bn at the end of December 2021, followed by ADIB - Egypt, Emirates NBD, and alBaraka – Egypt, with growth rates of 29.14%, 22.23%, and 5.90%, respectively, during the same period.
It should be noted that all values and growth rates mentioned in the above analysis are according to separate financial statements announced for each bank at the end of December 2022.
fastest growing Gulf banks in Egypt in terms of Assets At 2022
| # | Bank Name | value at -Dec-end2022 | value at -Dec-end2021 | Growth rate % |
|---|---|---|---|---|
| 1 |
Abu Dhabi Commercial Bank Egypt- ADCB |
86.17 Billion pounds | 48.356 Billion pounds | 78.2 % |
| 2 |
First Abu Dhabi Bank Egypt-FAB |
206.45 Billion pounds | 133.19 Billion pounds | 55 % |
| 3 |
NBK Egypt |
105.136 Billion pounds | 77.493 Billion pounds | 35.67 % |
| 4 |
Qatar National Bank-QNB  |
476.792 Billion pounds | 354.195 Billion pounds | 34.61 % |
| 5 |
Al Ahli Bank of Kuwait Egypt -ABK Egypt |
75.603 Billion pounds | 56.75 Billion pounds | 33.22 % |
| 6 |
Al Ahli united bank Egypt |
85.492 Billion pounds | 64.26 Billion pounds | 33.04 % |
| 7 |
Abu Dhabi Islamic Bank-ADIB Egypt |
115.516 Billion pounds | 89.45 Billion pounds | 29.14 % |
| 8 |
Emirates NBD Egypt |
100.938 Billion pounds | 82.577 Billion pounds | 22.23 % |
| 9 |
alBaraka Bank Egypt |
87.224 Billion pounds | 82.368 Billion pounds | 5.9 % |
