EBank, Suez Canal Bank, and Credit Agricole bank, Top fastest-growing listed banks in Net Fees and Commissions Income during Q1-2023

According to First Bank list of the fastest-growing banks in terms of net fees and commissions income during the first quarter of this year, EBank topped the list with a growth rate of 232.07%, recording EGP 335.7 mn during the first 3 months of 2023, compared to EGP 101.1 mn in the same period of the previous year.

The list, which included 11 banks listed on the Egyptian stock exchange, revealed that all the banks analyzed achieved positive growth rates in net fees and commissions income during the period from January to March 2023.

Suez Canal Bank ranked second with a growth rate of 227.67% during the first 3 months of the current year, recording a net  fees and commissions income of EGP 224.1 mn during the first quarter of 2023, compared to EGP 68.4 mn in the first quarter of 2022.

Credit Agricole Bank - Egypt came third, with a growth rate of 188.83%, recording EGP405.7 mn during the first quarter of the current year, compared to EGP 140.5 mn in the first quarter of 2022.

Abu Dhabi Islamic Bank - Egypt came in fourth place, as its net from fees and commissions income jumped by 111.65% during the first 3 months of the current year, recording EGP 405.5 mn during the first quarter of 2023, compared to EGP191.6 mn in the first quarter of 2022.

Faisal Islamic Bank of Egypt ranked fifth with a growth rate of 86.27% during the first 3 months of the current year, recording a net fees and commissions income of EGP114 mn during the first quarter of 2023, compared to EGP61.2 mn in the previous year's first quarter.

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