CIB Tops Largest Listed Banks by Assets in Q1-2023

First Bank's list of the largest listed banks by asset value at the end of March revealed Commercial International Bank of Egypt as the leader, with its total asset portfolio reaching EGP 684.2 bn, growing at a rate of 7.98% during the first quarter of 2023.

The list, which included 11 banks listed on the Egyptian Stock Exchange, showed that all analyzed banks managed to increase their total asset portfolios from January to March 2023, with a combined value of EGP 194.8 bn.

Qatar National Bank came second, with a total asset portfolio of EGP 517.4 bn, growing at a rate of 8.52% in the first quarter of the current year. Following closely is Faisal Islamic Bank, with an asset portfolio of EGP 166.1 bn by the end of the same period.

Abu Dhabi Islamic Bank - Egypt ranked fourth, as its total asset portfolio reached EGP 124.3 bn by the end of March 2023, achieving a growth rate of 7.63% during the first 3 months of the current year.

As for the fifth place, occupied by HD Bank, with a total asset portfolio value of EGP 116.3 bn at the end of March 2023. The portfolio witnessed a growth rate of 12% during the first quarter of 2023. Following closely is saib with total assets of EGP 104.8 bn by the end of the same period.

EBank came in seventh place, with its total asset portfolio rising to EGP 103.7 bn, achieving a growth rate of 7.18% during the first quarter of 2023. followed by Egyptian Gulf Bank, with EGP 99.9 bn by the end of March.

Banque Misr ranked ninth, with a total asset portfolio of EGP 93.3 bn, growing at a rate of 6.97% during the first 3 months of the current year.

Suez Canal Bank occupied the tenth place, with a total asset portfolio of EGP 87.9 bn by the end of March 2023, growing at a rate of 17.76% during the first quarter of the current year. followed by Credit Agricole - Egypt, with a total asset portfolio of EGP 85.04 bn by the end of the same period.

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