EGBANK, saib, and CIB, Fastest Growing Listed Banks in Syndicated Loans during Q1-2023

According to First Bank list of fastest-growing listed banks in syndicated loans during the first quarter of 2023, Egyptian Gulf Bank topped the list. Its syndicated loans grew at a rate of 64.42%, reaching EGP13.116 bn by the end of March 2023, compared to EGP7.977 bn at the end of December 2022.

The list, which included 10 banks listed on the Egyptian Stock Exchange (excluding Islamic Faisal Bank), revealed that all banks analyzed achieved positive growth rates in their syndicated loan portfolios during the first quarter of the current year.

saib secured the second place, achieving a growth rate of 18.89% during the first quarter of the current year. Its syndicated loan portfolio reached EGP13.901 bn by the end of March 2023, compared to EGP11.692 bn at the end of December 2022.

Commercial International Bank of Egypt ranked third, with its syndicated loan portfolio increasing by 16.73% during the first quarter of the current year. It reached EGP52.205 bn by the end of March 2023, while it recorded EGP44.722 bn at the end of December 2022.

Export Development Bank of Egypt ranked fourth with a growth rate of 14.29% during the first quarter of the current year. Its portfolio of syndicated finance reached EGP7.703 bn by the end of the first quarter of 2023, compared to EGP6.740 bn at the end of December 2022.

Credit Agricole Egypt Bank came in fifth place, with its syndicated loan portfolio increasing by 12.15% during the first quarter of the current year. It moved from EGP1.598 bn at the end of December 2022 to EGP 1.793 bn by the end of March 2023.

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