alBaraka Bank – Egypt, Ahli United Bank, and Suez Canal bank, are fastest growing banks in total personal loans

First Bank list of the fastest growing banks in total personal loans during the past year revealed that alBaraka Bank – Egypt topped the list with a growth rate of 98%, after its total portfolio reached EGP 3.7 bn at the end of December 2022, compared to EGP1.9 bn at the end of December 2021.

The list, which included 17 banks operating in the Egyptian banking sector for which financial data was available during the period under analysis, revealed that 16 banks achieved positive growth rates in their total personal loan portfolios by the end of 2022, while one bank achieved a decline rate in its total personal loan portfolio by the end of the same period.

Ahli United Bank ranked second, with a growth rate of 84.10% over the past year, after its total personal loans jumped from EGP 1.1 bn at the end of December 2021, to reach EGP 2.1 bn at the end of December 2022.

Suez Canal Bank ranked third with a growth rate of 62.70%, continuing its strong performance during the past year, after its total personal loan portfolio recorded EGP 2.6 bn at the end of December 2022, compared to EGP 1.6 bn at the end of December 2021.

E bank came in fourth place, after its total personal loan portfolio increased by a growth rate of 39.67% over the past year, to record EGP3.8 bn at the end of December 2022, compared to EGP 2.7 bn at the end of December 2021, followed by Faisal Islamic Bank in fifth place with a growth rate of 39.41% during the same period.

Housing and Development Bank took sixth place, with a growth rate of 33.54% over the past year, after its total personal loan portfolio jumped from EGP6.8 bn at the end of December 2021, to EGP9.1 bn at the end of December 2022.

ABK– Egypt ranked seventh after its total personal loan portfolio jumped at a growth rate of 32.89% over the past year, reaching EGP 11.9 bn at the end of December 2022, compared to EGP 8.9 bn at the end of December 2021.

saib came eighth , with a growth rate of 28.58% over the past year, bringing its total portfolio to EGP7.8 bn at the end of December 2022, compared to EGP6.1 bn at the end of December 2021, followed by CIB and Banque du caire in ninth and tenth places with growth rates. 27% and 21.59%, respectively, during the same period.

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