aiBank, Suez Canal Bank, ADCB Egypt, CIB and HD Bank, are fastest growing banks in direct loans

First Bank list of the fastest growing banks in direct loans during the past year revealed that Arab Investment Bank topped the list, with a growth rate of 124.73% over the past year, after it recorded EGP 11.8 bn at the end of December 2022, compared to EGP 5.2 bn at the end of December 2021.

The list, which included 18 banks operating in the Egyptian banking sector, revealed that all the banks under analysis achieved positive growth rates in their total direct loan portfolios during the past year.

Suez Canal Bank came second, with a growth rate of 70.28%, after its total portfolio jumped to record EGP 6.7 bn at the end of December 2022, compared to EGP3.9 bn at the end of December 2021.

Abu Dhabi Commercial Bank – Egypt occupied third place with a growth rate of 69.80% over the past year, to record its total portfolio EGP 13.9 bn at the end of December 2022, compared to EGP 8.2 bn at the end of December 2021.

Commercial International Bank – Egypt came forth, with a growth rate of 56.82% over the past year, bringing the bank’s total direct loans to more than EGP 78 bn at the end of December 2022, compared to EGP49.8 bn at the end of December 2021.

Housing and Development Bank ranked fifth after its total direct loans jumped at a growth rate of 44.10% over the past year, to record EGP 6.1 bn at the end of December 2022, compared to EGP 4.2 bn at the end of December 2021, followed by Ahli United Bank with a growth rate of 42.15% during the same period.

alBaraka Bank - Egypt came in seventh place, with a growth rate of 39.12% over the past year, after its direct loan portfolio increased to EGP25.9 bn at the end of December 2022, compared to EGP 18.6 bn at the end of December 2021.

National Bank of Kuwait – Egypt ranked eighth, with a growth rate of 35.40% over the past year, after its direct loan portfolio recorded EGP39.5 bn at the end of December 2022, compared to EGP 29.1 bn at the end of December 2021, followed by ADIB Egypt and Credit Agricole bank, with growth rates of 32.73%. and 30.28%, respectively, during the same period.

Al Ahli Bank of Kuwait – Egypt ranked eleventh, with a growth rate of 27.3% over the past year, after its direct loan portfolio increased to EGP 14.2 bn at the end of December 2022, compared to EGP 11.2 bn at the end of December 2021.

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.