Credit Agricole Bank, Faisal Bank, CIB, Ahli United Bank, and ABK – Egypt, top banks in terms of ROA

First Bank list of the best banks for achieving return on average assets(ROA) revealed that Credit Agricole Bank – Egypt topped the list with a rate of return on average assets of 3.58%, after achieving a net profit of EGP 2.419 bn during the past year.

The list, which included 20 banks operating in the Egyptian banking sector, revealed that all banks achieved positive ROAs, due to the success of the banks in achieving net profits at varying levels and that none of these banks achieved losses during the past year.

The list revealed that 16 Egyptian banks exceeded the rate of ROA set by CBE, which reached 1.2% in December 2022, according to the latest bulletin issued on the bank’s website.

ROA measures the efficiency of banks in investing their assets in order to achieve net profits during the period under analysis, and the higher the return, the more this the efficiency of the bank in investing its assets to achieve appropriate profit levels.

Faisal Islamic Bank of Egypt ranked second, after recording a rate of ROA of 3.17% during the past year, as the bank achieved net profits of EGP 4.475 bn during 2022.

Commercial International Bank took third place after it was able to achieve ROA of 2.85%, as a result of an increase in its net profits to EGP16.130 bn during the past year 2022, followed by Ahli United Bank at a rate of 2.68% during the same period.

Al Ahli Bank of Kuwait – Egypt ranked fifth, after it achieved ROA of 2.54% during 2022, as the bank’s net profit reached EGP 1.682 bn.

Housing and Development Bank came sixth with ROA of 2.51% and net profits of EGP 2.256 bn during the past year, followed by QNB Al Ahli Bank with 2.44% during the same period.

Alex bank came in eighth place with ROA of 2.30% during 2022, followed by Abu Dhabi Islamic Bank in ninth place with 2.0742% during the same period last year.

The tenth place on the list was occupied by alBaraka Bank - Egypt, after it recorded ROA of 2.0697%, followed by National Bank of Kuwait - Egypt, with 2% during the year 2022.

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