First Bank monitors the fastest growing banks in corporate deposits

First Bank list of the fastest growing banks in corporate deposits during the past year revealed that Abu Dhabi Commercial Bank - Egypt topped the list, with a growth rate of 109.63%, after the total corporate deposits  jumped to record EGP64.5 bn by the end of December 2022, compared to EGP30.7 bn by the end of December 2021.

The list, which included 19 banks operating in the Egyptian banking sector for which financial data were available for the period under analysis, revealed that 18 banks achieved positive growth rates in their corporate deposits, while one bank recorded a decline rate in its corporate deposit portfolio during the past year.

Attijariwafa bank ranked second with a growth rate of 78.33% over the past year, recording its total portfolio of EGP 30.5bn at the end of December 2022, compared to EGP 17.1 bn at the end of December 2021.

NBK- Egypt came in third place, with a growth rate of 76.06% over the past year, bringing the total corporate deposit to EGP44.3 bn at the end of December 2022, compared to EGP25.2 bn at the end of December 2021.

Abu Dhabi Islamic Bank - Egypt came fourth, with a growth rate of 69.64% over the past year, after its total corporate deposits recorded EGP 48.3 bn at the end of December 2022, compared to EGP28.5 bn at the end of December 2021, followed by Alex bank with a growth rate of 57.09% during the same period.

Housing and Development Bank ranked sixth, after its total corporate deposit portfolio jumped at a growth rate of 53.88% over the past year, to record a value of EGP62.3 bn at the end of December 2022, compared to EGP40.5 bn at the end of December 2021.

QNB Al Ahli ranked seventh, with a growth rate of 53.34% over the past year, after its total corporate deposit portfolio recorded EGP262.4 bn at the end of December 2022, compared to EGP171.1 bn at the end of December 2021, followed by Banque du Caire in eighth place with a growth rate of 50.85% during the same period.

And Al Ahli Bank of Kuwait – Egypt ranked ninth, with a growth rate of 47.68% over the past year, after its total corporate deposits rose to EGP49.6 bn at the end of December 2022, compared to EGP33.6 bn at the end of December 2021, followed by CIB with a growth rate. 45.79% during the same period.

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.