CIB and QNB ALAHLI Top First Bank index for depositors’ confidence in listed banks during Q1-2023

First Bank index, which measures depositors' confidence in listed banks, revealed that Commercial International Bank - Egypt secured the top position on the index at the end of the previous March. CIB successfully increased its customer deposit portfolio by EGP 43.989 bn during the first quarter of the current year, reaching EGP 574.114 bn by the end of March 2023, compared to EGP 530.125 bn by the end of December 2022.

First Bank index tracked the increase in deposit balances for 11 banks listed on the Egyptian Stock Exchange from January to March 2023. It revealed that all banks were able to increase their customer deposit portfolios by a total value of EGP 142.906 bn during the first quarter of 2023.

First Bank index is designed to measure savers' preferences and confidence in linking deposits and certificates to Egyptian banks during a specific period. It measures the value of the increase in deposit portfolios for banks listed on the Egyptian Stock Exchange, where the bank that receives the highest amount of new deposits during this period ranks first on the index.

Qatar National Bank Al Ahli secured the second position after its customer deposit portfolio increased by EGP 36.042 bn during the first quarter of the current year, reaching EGP 443.110 bn by the end of March 2023, compared to EGP 407.067 bn by the end of December 2022.

saib ranked third after it managed to increase its customer deposit portfolio by EGP 10.370 bn during the first quarter of the current year. Its portfolio size rose to EGP 83.376 bn by the end of March 2023, compared to EGP 73.006 bn by the end of December 2022.

As for the fourth position, it was obtained by Suez Canal Bank, which increased its customer deposit portfolio by EGP 9.756 bn during the first quarter of the current year, reaching EGP 75.559 bn by the end of March 2023, compared to EGP 65.803 bn by the end of December 2022.

Faisal Islamic Bank of Egypt ranked fifth after its customer deposit portfolio increased by EGP 8.018 bn during the first quarter of the current year, reaching EGP 131.644 bn by the end of March 2023, compared to EGP 123.626 bn by the end of December 2022.

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