AAIB, FAB- Egypt, and EBank, top banks in Assets coverage ratio for Deposits by end of 2022

First bank list of the best banks in Assets coverage ratio for deposits revealed that Arab African International Bank topped the list with a coverage ratio of 149.5% at the end of last year, after total assets recorded EGP 324.9 bn, ($13.169 bn), while total deposits recorded EGP 217.3 bn, ($8.809 bn) by the end of December 2022.

Asset Coverage ratio for deposits expresses the ability of banks to cover their customers’ deposits using their asset portfolios, according to (assets / deposits)×100, The higher the value, the higher the level of safety provided by the bank to its depositors of all segments.

First Abu Dhabi Bank - Egypt ranked second, after Asset coverage ratio for deposits recorded 148.12% at the end of last year, after the bank’s total assets recorded EGP 206.5 bn, while total deposit portfolio of its customers recorded EGP 139.4 bn by the end of December 2022.

E Bank came third with 132.76% at the end of the previous year, as its total asset portfolio reached EGP96.7 bn, and its total deposit portfolio recorded EGP72.9 bn by the end of December 2022, followed by Banque du Caire with 128.54% by the end. same period.

National Bank of Kuwait - Egypt came fifth with 124.48%, as its total portfolio of assets recorded EGP 105.1 bn, while its deposit portfolio reached EGP84.5 bn at the end of December 2022, followed by Credit Agricole Bank in sixth place with 121.17%.

Faisal Islamic Bank of Egypt came in seventh place with 122.66%, after its total asset portfolio recorded EGP151.6 bn pounds, and its total deposit portfolio reached EGP 123.6 bn by the end of December2022, followed by EGBANK with coverage rates of 122.48% and 120.93% respectively by the end of last year.

Alex Bank ranked tenth with 120.20% by the end of December 2022, followed by CIB and saib banks, with 119.53% and 118.45%, respectively, by the end of last year.

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