ADCB Egypt, aiBANK and alBaraka Bank, are fastest growing banks in financial investments

5/15/2023 9:05:07 PM

First Bank list of the fastest growing banks in total financial investments during the past year revealed that Abu Dhabi Commercial Bank – Egypt topped the list with a growth rate of 89.48%, after its total portfolio increased to EGP30.8 bn at the end of December 2022, compared to EGP16.3 bn at the end of December 2021.

First Bank list monitored the total financial investments of 20 banks operating in the Egyptian banking sector, for which data were available during the analysis period, and revealed that 16 banks achieved positive growth rates in their total shareholders' Equity, while 4 banks recorded decline rates in their total financial investments during 2022.

Returning to the list, Arab Investment Bank snatched second place with a growth rate of 66.29% over the past year, after its total financial investments recorded about EGP 22.7 bn at the end of December 2022, compared to EGP 13.7 bn at the end of December 2021.

alBaraka Bank - Egypt ranked third with a growth rate of 54.7% over the past year, after jumping with its total financial investment portfolio from EGP20.5 bn at the end of December 2021, to reach EGP 31.7 bn at the end of December 2022.

Egyptian Export Development Bank came in fourth place, after its total financial investments increased by a growth rate of 45.83% over the past year, to record EGP 26.9 bn at the end of December 2022, compared to EGP 18.5 bn at the end of December 2021.

And it came fifth at Attijariwafa Bank, after its total financial investments increased by a growth rate of 38.52% over the past year, after it recorded EGP 19.2 bn at the end of December 2022, compared to EGP 13.9 bn at the end of December 2021, followed by Qatar National Bank Al Ahli in sixth place with a growth rate of 34.65%. during the same period.

As for the seventh place, Suez Canal Bank came with a growth rate of 28.78%, after it succeeded in increasing its total financial investments to EGP 24.6 bn at the end of December 2022, compared to EGP 19.1 bn at the end of December 2021.

Housing and Development Bank came in eighth place after achieving a growth in its total financial investments at a rate of 17.44% over the past year, to reach EGP28.6 bn at the end of December 2022, compared to EGP24.4 bn at the end of December 2021, followed by National Bank of Kuwait and Banque du Caire with growth rates of 16.93% and 13.38%, respectively, during the same period.

It should be noted that all the values and growth rates mentioned above are according to separate financial statements announced for each bank at the end of December 2022، The following list reveals the fastest growing banks in total financial investments by the end of December 2022.

Total financial investments' growth in Egyptian banks during 2022

#	Bank Name	Value At -Dec-end-22	Value At -Dec-end-21	Growth rate %
1	Abu Dhabi Commercial Bank Egypt- ADCB	30.815 Billion pounds	16.263 Billion pounds	89.48 %
2	BANK NXT	22.714 Billion pounds	13.659 Billion pounds	66.29 %
3	alBaraka Bank Egypt	31.655 Billion pounds	20.462 Billion pounds	54.7 %
4	Export Development Bank of Egypt-EBank	26.913 Billion pounds	18.455 Billion pounds	45.83 %
5	Attijariwafa Bank Egypt	19.245 Billion pounds	13.893 Billion pounds	38.52 %
6	Qatar National Bank-QNB	174.86 Billion pounds	129.867 Billion pounds	34.65 %
7	Suez Canal Bank	24.618 Billion pounds	19.117 Billion pounds	28.78 %
8	Housing and Development Bank-HDB	28.644 Billion pounds	24.39 Billion pounds	17.44 %
9	NBK Egypt	33.462 Billion pounds	28.69 Billion pounds	16.93 %
10	Banque Du Caire-BDC	102.462 Billion pounds	90.37 Billion pounds	13.38 %
11	Al Ahli united bank Egypt	16.965 Billion pounds	15.008 Billion pounds	13.04 %
12	Commercial International Bank-CIB	237.095 Billion pounds	212.951 Billion pounds	11.34 %
13	Faisal Islamic Bank of Egypt	93.849 Billion pounds	84.517 Billion pounds	11.04 %
14	SAIB BANK	22.378 Billion pounds	21.546 Billion pounds	3.86 %
15	Abu Dhabi Islamic Bank-ADIB Egypt	30.982 Billion pounds	30.355 Billion pounds	1.77 %
16	Bank of Alexandria-Alex Bank	32.326 Billion pounds	32.318 Billion pounds	0.02 %
17	Emirates NBD Egypt	28.197 Billion pounds	28.368 Billion pounds	-0.6 %
18	Credit Agricole Egypt	13.106 Billion pounds	13.438 Billion pounds	-2.47 %
19	Al Ahli Bank of Kuwait Egypt -ABK Egypt	19.517 Billion pounds	20.28 Billion pounds	-3.76 %
20	EGBANK	35.881 Billion pounds	40.156 Billion pounds	-10.65 %