saib, ADIB Egypt, and Faisal bank, Fastest Growing Listed Banks in shareholders' Equity in Q1-2023

First Bank list of the fastest-growing listed banks in total shareholders' Equity during the first quarter of the current year revealed that saib topped the list with a growth rate of 31.91%. Its total shareholders' Equity reached EGP11.194 bn at the end of March 2023, compared to EGP8.486 bn at the end of December 2022.

Shareholders' Equity represents what remains for the owners after deducting all liabilities from the total bank assets (in essence, it reflects the shareholders' Equity in the bank's assets). First Bank list monitored shareholders' Equity of 11 banks listed on the Egyptian Stock Exchange.

The list revealed that 10 banks achieved positive growth rates in their total shareholders' Equity portfolio by the end of December 2022, while one bank recorded a decline by the end of March 2023.

Abu Dhabi Islamic Bank - Egypt secured the second position with a growth rate of 19.55% during the first quarter of the current year. The bank's total shareholders' Equity increased from EGP8.623 bn at the end of December 2022 to EGP 10.309 bn at the end of March 2023.

Faisal Islamic Bank of Egypt ranked third after its total shareholders' Equity increased by a growth rate of 7.34% during the first quarter of the current year, reaching EGP23.574 bn at the end of March 2023, compared to EGP21.962 bn at the end of December 2022.

EGBANK ranked fourth with a growth rate of 7.05% during the first quarter of the current year, recording EGP 5.692 bn at the end of March 2023, compared to EGP 5.317 bn at the end of December 2022.

Crédit Agricole - Egypt occupied the fifth position with a growth rate of 6.15% during the first quarter of the current year. Its total shareholders' Equity increased from EGP9.925 bn at the end of December 2022 to EGP10.535 bn at the end of March 2023. It was followed by Suez Canal Bank with a growth rate of 3.91% during the same period.

It is worth noting that all mentioned values and growth rates above are based on separate financial statements, announced for each bank at the end of March 2023.