EBank, saib, Emirates NBD, and ABK – Egypt, are fastest growing banks in net profits

FirstBank list of the fastest growing banks in net profits during the past year revealed that Export Development Bank of Egypt  topped the list with a growth rate of 145.10%, after achieving net profits of EGP 1.229 bn in 2022, compared to EGP 501 mn in 2021.

 saib took second place, following a growth in its net profits at a rate of 137.15%, after it recorded EGP 744 mn in 2022, compared to EGP314 mn in 2021, followed by Emirates NBD Bank – Egypt, with a growth rate of 116.76% during same period.

Al Ahli Bank of Kuwait – Egypt ranked fourth on the list, with a growth rate of 101.77% over the past year, after recording a net profit of 1.682 bn in 2022, compared to EGP 833 mn in 2021.

Attijariwafa Bank came fifth with a growth rate of 90.69% over the past year, after achieving net profits of EGP 1.038bn in 2022, compared to EGP 544mn in 2021, followed by Ahli United Bank with a growth rate of 74.09% during the same period last year.

As for the seventh place, Suez Canal Bank came with net profit growth of 72% during the past year, to record EGP1.04 bn in 2022, compared to EGP 605 mn in 2021, followed by Faisal Islamic Bank of Egypt with a growth rate of 66.80% during the same period.

alBaraka Bank - Egypt came in ninth place, with a growth rate of 55% over the past year, after its net profits increased to EGP1.755 bn during 2022, compared to EGP1.132 bn during 2021, followed by Abu Dhabi Islamic Bank - Egypt, with a growth rate of 54.05% 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.