ADCB Egypt, Agricultural Bank of Egypt, and HD Bank, top the fastest growing banks in terms of deposit portfolio

FirstBank list of banks with the fastest growth in customer deposits during 2022 revealed that Abu Dhabi Commercial Bank - Egypt topped the list with a growth rate of 83.63% over the past year, after its bank’s deposit portfolio increased to EGP75.5 bn at the end of December 2022, compared to EGP41.1 bn at the end of December. 2021.

First Bank list monitored total deposit portfolio with 23 banks operating in the Egyptian banking sector, for whom financial statements were made available at the end of December of 2022, and revealed that all banks achieved positive growth rates in their customers’ deposits during the past year.

Returning to the list, the Agricultural Bank of Egypt took second place, after its customers’ deposit portfolio jumped by a growth rate of 47.17% over the past year, to record EGP 141.2 bn at the end of December 2022, compared to EGP 96 bn at the end of December 2021.

Housing and Development Bank ranked third, after its deposit portfolio increased by a growth rate of 42.27%, to record EGP 89.5 bn at the end of December 2022, compared to EGP 62.9 bn at the end of December 2021, followed by Attijariwafa bank with a growth rate of 39.38% during the same period.

As for the fifth place, Al Ahli Bank of Kuwait – Egypt achieved a growth in its deposit portfolio at a rate of 38.15% over the past year, to move from EGP47.9 bn at the end of December 2021, compared to EGP66.2 bn at the end of December 2022.

Came sixth, QNB Al-Ahli, with a growth rate of 37.41% during the past year, after the total deposits of its customers increased to EGP407.1 bn at the end of December 2022, compared to EGP296.2 bn at the end of December 2021, followed by NBK- Egypt, with a growth rate of 36.17% during the same period.

First Abu Dhabi Bank Egypt ranked eighth, with a growth rate of 35% over the past year, after its total deposit portfolio increased to EGP139.38 bn at the end of December 2022, compared to EGP103.24 bn at the end of December 2021, followed by CIB, with a growth rate of 30.54% over the past year.

Ahli United Bank came in tenth place, with a growth rate of 30.38% over the past year, after total deposit portfolio recorded EGP69.8 bn at the end of December 2022, compared to EGP53.5 bn at the end of December 2021.

As for the Suez Canal Bank, it ranked eleventh, with a growth rate of 30.08% over the past year, with total deposit portfolio moving from EGP 50.6 bn at the end of December 2021, to reach EGP 65.8 bn at the end of December 2022, followed by ADIB - Egypt, with a growth rate of 28.94. % over the past year 2022.

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