EBank, CIB, and ADIB Egypt, Fastest Growing Listed Banks in Direct Loans during Q1-2023

First Bank list revealed the fastest growing listed banks in direct loans during the first quarter of the current year. Export Development Bank of Egypt topped the list with a growth rate of 15.56%, as its total portfolio rose to EGP10.4 bn by the end of March 2023, compared to EGP 9.03 bn by the end of December 2022.

First Bank list included the total direct loans of 10 banks listed on the Egyptian Stock Exchange (excluding CBE), and revealed that 8 banks achieved positive growth rates in their direct loan portfolios, while 2 banks experienced a decline.

Commercial International Bank - Egypt secured the second place on the list with a growth rate of 12.51%, as its direct loan portfolio reached EGP87.8 bn by the end of March 2023, compared to EGP78.03 bn by the end of December 2022.

Abu Dhabi Islamic Bank - Egypt ranked third with a growth rate of 7.54% during the first 3 months of the current year, as its direct loan portfolio jumped to EGP39.6 bn by the end of March 2023, compared to EGP36.8 bn by the end of December 2022.

alBaraka Bank - Egypt captured the fourth place with a growth rate of 5.64% during the first quarter of the current year, as its direct loan portfolio increased from EGP25.9 bn by the end of December 2022 to EGP27.4 bn by the end of March 2023.

Qatar National Bank - Al Ahli occupied the fifth place, with its direct loan portfolio increasing by a growth rate of 3.42% during the first quarter of the current year, reaching EGP72.3 bn by the end of March 2023, compared to EGP69.9 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.