Faisal Bank, Alex bank, QNB Al-Ahli, CIB, and HD Bank, Top Egyptian banks in terms of CAR

FirstBank list of the best Egyptian banks in capital adequacy ratio (CAR) at the end of last year revealed that Faisal Islamic Bank of Egypt topped the list, after its capital adequacy rate recorded 29.01% at the end of December 2022.

The list included 20 banks operating in the Egyptian banking sector for whom financial data were available for the period of analysis, 7 of them succeeded in achieving a capital adequacy rate that exceeds the banking sector average, which is 19% by the end of December of 2022, revealed by the latest statistical bulletin issued by CBE.

All the banks included in the list succeeded in exceeding the minimum limit set by CBE for capital adequacy ratio of 12.5%, after local banks continued to strengthen their capital adequacy ratios at the end of the fiscal period ending in December of last year, to implement international best practices and the requirements of Basel.

We used to consider capital adequacy ratio as a tool to measure the bank's ability to meet its obligations and face any losses that in the future, to protect the bank depositors and other lenders.

Alex Bank took the second place after it recorded its capital adequacy ratio of about 25.04% at the end of December 2022, followed by Qatar National Bank Al Ahli in third place at a rate of 22.99% at the end of December of last year.

Commercial International Bank ranked fourth among the best Egyptian banks in capital adequacy standard, after its rate recorded about 22.66% at the end of December 2022.

Housing and Development Bank ranked fifth on the list, after achieving its capital adequacy ratio of about 21.84% by the end of December 2022.

National Bank of Kuwait - Egypt came in sixth place after recording its capital adequacy ratio of 19.95% at the end of December of 2022, while Arab Investment Bank came in seventh place with a capital adequacy standard of 19.53% at the end of the previous year.

Emirates NBD Bank - Egypt ranked eighth, after its capital adequacy standard recorded 18.91% at the end of December 2022, followed by Credit Agricole and EGBANK in ninth and tenth places, with capital adequacy rates of about 18.69% and 18.39% at the end of last year.

It should be noted that all the data mentioned above, are according to separate financial statements announced for each bank at the end of December 2022.