saib, Suez Canal Bank, and EGBANK, Top fastest-growing listed banks in terms of Assets during Q1-2023

According to First Bank list of the fastest-growing listed banks in total Assets during the first quarter of the current year, saib topped the list with a growth rate of 21.23%, reaching EGP 104.8 bn by the end of March 2023, compared to EGP 86.5 bn by the end of December 2022.

The list, which included 11 banks listed on the Egyptian Stock Exchange, revealed that all the banks analyzed achieved positive growth rates in their total financial position during the period from January to March 2023.

Suez Canal Bank came in second place with a growth rate of 17.76% during the first quarter of the current year, as its total assets increased to EGP 87.9 bn by the end of March 2023, compared to EGP 74.7 bn by the end of December 2022.

EGBANK ranked third after its total assets increased by a growth rate of 15.22% during the first quarter of the current year, reaching EGP 99.9 bn by the end of March 2023, compared to EGP 86.7 bn by the end of December 2022.

Crédit Agricole Egypt came forth, as its total assets increased by a growth rate of 13.22% during the first quarter of the current year, reaching EGP 85.04 bn by the end of March 2023, compared to EGP 75.1 bn by the end of December 2022.

As for fifth place, it was obtained by Housing and Development Bank with a growth rate of 12% during the first quarter of the current year, as its total assets reached EGP 116 bn by the end of March 2023, compared to EGP 103.6 bn by the end of December 2022.

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