Crédit Agricole bank, saib, and Suez Canal bank, Fastest-growing listed banks in terms of corporate deposits in Q1-2023
First Bank list revealed the fastest-growing banks in terms of corporate deposits in the first 3 months of the current year. Crédit Agricole - Egypt topped the list with a growth rate of 21.16%. Its total portfolio increased to reach EGP 43.9 bn by the end of March 2023, compared to EGP 36.2 bn by the end of December 2021.
The list included 11 banks listed on the Egyptian Stock Exchange, and all banks achieved positive growth rates in their total corporate deposit portfolios during the period from January to March 2023.
The listed banks managed to increase their corporate deposit portfolios by EGP 92.828 bn in the first quarter of the current year alone, bringing their total value to EGP 1.023 tn by the end of March 2023, compared to EGP 929.8 bn by the end of December 2022, achieving a growth of 10% in the first three months of 2023.
saib occupied second place, with its total corporate deposit portfolio growing by 18.27% during the first quarter of the current year, reaching EGP 59.2 bn by the end of March 2023, compared to EGP 50.03 bn by the end of December 2022.
Suez Canal Bank took third place with a growth rate of 16.82% during the first 3 months of the current year, as its total corporate deposit portfolio increased from EGP 83 bn by the end of December 2022 to EGP 61.9 bn by the end of March 2023.
Egyptian Gulf Bank ranked fourth with a growth rate of 12.34% during the first quarter of the current year, as its corporate deposits reached EGP 60.9 bn by the end of March 2023, compared to EGP 54.2 bn by the end of December 2022.
EBank occupied fifth position with a growth rate of 11.65% during the first three months of the current year. Its total institutional deposit portfolio reached approximately EGP 66.6 bn by the end of March 2023, compared to EGP 59.7 bn by the end of December 2022.
It is worth noting that all mentioned values and growth rates above are based on separate financial statements announced for each bank by end of March 2023.
Fastest growing listed banks in terms of corporate deposits At-Q1-23
| # | Bank Name | Value At-March-End-23 | Value At-Dec-End-22 | Growth rate % |
|---|---|---|---|---|
| 1 |
Credit Agricole Egypt |
43.885 Billion pounds | 36.22 Billion pounds | 21.16 % |
| 2 |
SAIB BANK |
59.172 Billion pounds | 50.031 Billion pounds | 18.27 % |
| 3 |
Suez Canal Bank |
61.905 Billion pounds | 52.994 Billion pounds | 16.82 % |
| 4 |
EGBANK |
60.929 Billion pounds | 54.238 Billion pounds | 12.34 % |
| 5 |
Export Development Bank of Egypt-EBank |
66.618 Billion pounds | 59.669 Billion pounds | 11.65 % |
| 6 |
Qatar National Bank-QNB Al Ahli |
288.312 Billion pounds | 262.387 Billion pounds | 9.88 % |
| 7 |
Commercial International Bank-CIB |
283.863 Billion pounds | 262.224 Billion pounds | 8.25 % |
| 8 |
Abu Dhabi Islamic Bank-ADIB Egypt |
51.038 Billion pounds | 48.313 Billion pounds | 5.64 % |
| 9 |
Housing and Development Bank-HDB |
65.232 Billion pounds | 62.261 Billion pounds | 4.77 % |
| 10 |
Faisal Islamic Bank of Egypt |
4.177 Billion pounds | 4.068 Billion pounds | 2.68 % |
| 11 |
alBaraka Bank Egypt |
37.453 Billion pounds | 37.351 Billion pounds | 0.27 % |
