EBabk, Credit Agricole Egypt, and ADIB Egypt, Fastest-Growing Listed Banks in Mortgage Loans during Q1-2023

First Bank list revealed the fastest-growing listed banks in Mortgage loans during the first quarter of the current year. E Bank topped the list with a growth rate of 25.24%, recording EGP 533.2 mn by the end of March 2023, compared to EGP 425.8 mn by the end of December 2022.

The list, which included 10 banks listed on the Egyptian Stock Exchange, excluding the Suez Canal Bank due to the unavailability of Mortgage loans, showed that 8 banks achieved positive growth rates in their Mortgage loan portfolios. However, 2 banks witnessed a decline in their total Mortgage loans by the end of March 2023.

Credit Agricole bank Egypt came in second place with a growth rate of 23.5% during the first 3 months of the current year. Their total Mortgage loan portfolio increased from EGP 486 mn by the end of December 2022 to EGP 600.3 mn by the end of March 2023.

Abu Dhabi Islamic Bank Egypt ranked third with a growth rate of 23.15% during the first quarter of the current year. Their total Mortgage loan portfolio reached EGP 302.2 mn by the end of March 2023, compared to EGP 245.4 mn by the end of December 2022.

Commercial International Bank Egypt obtained fourth place with a growth rate of 8.92% during the first quarter of the current year. Their total Mortgage loan portfolio jumped to EGP 3.7 bn by the end of March 2023, compared to EGP 3.4 bn by the end of December 2022.

Qatar National Bank Al Ahli ranked fifth with a growth rate of 6.01% during the 3 months ending on March 31, 2023. Their total Mortgage loan portfolio increased to EGP 5.1 bn by the end of March 2023, compared to EGP 4.8 bn by the end of December 2022.

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