HD Bank, Ebank, Credit Agricole bank, and Suez Canal bank, Top fastest-growing listed banks in net interest income during Q1-2023

First Bank list of fastest-growing banks in terms of net interest income during the first quarter of 2023 revealed that HD Bank topped the list. Their net interest income  jumped by 110.34%, reaching EGP2.037 bn during the first quarter of 2023, compared to EGP969 mn during the first quarter of 2022.

The list, which included 11 banks listed on the Egyptian Stock Exchange, showed that all banks achieved positive growth rates in their net interest income during the period from January to March 2023.

EBank came second, after its net interest income increased by a growth rate of 105% to reach EGP1.098 bn during the first quarter of 2023, compared to EGP535 mn in the previous year's first quarter.

Credit Agricole Egypt ranked third after achieving a growth rate of 93.92% in its net interest income, recording EGP1.5 bn during the first quarter of 2023, compared to EGP 3773 mn during the first quarter of 2022.

As for forth place, it was obtained by Suez Canal Bank, with its net interest income increasing by a growth rate of 89.59%, achieving EGP707 mn during the first quarter of 2023, compared to EGP373 mn during the same period of the previous year.

Abu Dhabi Islamic Bank Egypt, ranked fifth after achieving a growth rate of 85.88% in its net interest income, recording EGP 1.769 bn during the first quarter of 2023, compared to EGP952 mn during the first quarter of 2022.

It should be noted that all the mentioned values and growth rates above are based on separate financial statements announced for each bank by end of March 2023.