ADCB Egypt leads Egyptian banks in corporate deposits' growth rate during 2022

Abu Dhabi Commercial Bank – Egypt topped First Bank list of the fastest growing banks in corporate deposits during the past year, with a growth rate of 109.64%, after its portfolio increased from EGP30.70 bn at the end of 2021, to EGP64.36 bn at the end of 2022, an increase of EGP33.66 bn.

The significant increase achieved by the bank during the past year was reflected in its Deposit portfolio, as corporate deposits acquired 85.25% of total deposits by the end of 2022.

The bank’s deposit portfolio jumped to EGP75.49 bn by the end of 2022, compared to EGP 41.11 bn by the end of 2021, achieving a growth rate of 83.64%, and an increase of EGP34.38 bn, topping First Bank list of the fastest growing banks in customer deposits during the past year.

This made the bank enhance its market share during the past year, and to add about 0.24% to its share in the deposit market, to jump to 0.88% of the total banking sector deposits by the end of 2022, compared to 0.64% by the end of 2021.

Corporate sector also played an important role in the growth of total loan portfolio, as it contributed 74.71% to the bank’s total financing portfolio, which jumped to EGP31.40 bn at the end of 2022, compared to EGP 22.29 bn at the end of 2021, achieved A growth rate of 40.88%, an increase of EGP9.11 bn.

This strong performance pushed the bank to occupy third place on First Bank list of the fastest growing Egyptian banks in total customer loans over the past year.

The bank’s loans to corporates jumped by 57.40%, to reach EGP23.46 bn by the end of 2022, compared to EGP 14.91 bn by the end of 2021, achieving a growth rate of 57.40%, and an increase of EGP8.56 bn, ranking second on First Bank list of the fastest growing banks in Corporate loans over the past year.