CIB Tops Largest Listed Banks by Deposit portfolio at the End of Q1-2023

First Bank list ranking listed banks by the highest total customer deposits at the end of the first quarter of the current year revealed that Commercial International Bank of Egypt topped the list, Its deposit portfolio reached EGP 574.1 bn by the end of March 2023, with a growth rate of 8.30% during the analyzed period.

The list, which included 11 banks listed on the Egyptian Stock Exchange, showed that all the analyzed banks were able to increase their total deposit portfolios by a combined value of EGP 142.9 bn during the period from January to March 2023.

Qatar National Bank came second after its customer deposit portfolio reached EGP 443.1 bn, achieving a growth rate of 8.85% during the first quarter of 2023.

Faisal Islamic Bank of Egypt ranked third with a deposit portfolio of EGP 131.6 bn, growing at a rate of 6.45% during the first quarter of 2023. It was followed by Abu Dhabi Islamic Bank - Egypt in the fourth position, with a deposit portfolio of EGP 101.7 bn and a growth rate of 4.10% during the same period.

As for fifth position, it was taken by Housing and Development Bank, whose deposit portfolio rose to EGP 96.4 bn with a growth rate of 7.72% during the first quarter of the current year. Following it in sixth place, saib with a deposit portfolio of EGP 83.4 bn and a growth rate of 14.20% during the same period.

EBank ranked seventh on the list in terms of its customer deposit portfolio, which amounted to EGP 80.3 bn, recording a growth rate of 10.25% during the first quarter of 2023. followed by EGBANK in the eighth position with EGP 79.7 bn and a growth rate of 11.07% during the current year.

Suez Canal Bank ranked ninth after achieving the highest growth rate among the listed banks, at 14.83%, bringing its portfolio size to EGP 75.6 bn by the end of March 2023.

alBaraka - Egypt ranked tenth after its deposit portfolio reached EGP 75.5 bn, with a growth rate of 1.40% during the first quarter of the current year. Followed by Crédit Agricole - Egypt with a deposit portfolio of EGP 67.9 bn and a growth rate of 12.18% during the same period of 2023.

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