Islamic Bank financing jumps to EGP 117.07 bn by March-2023end
First bank
Total financing provided by Islamic banks (alBaraka, Abu Dhabi Islamic Bank, and Faisal Bank) to customers during the first quarter of 2023 increased to EGP 117.07 bn by the end of last March, compared to EGP 109.60 bn by the end of 2022, with a growth rate of 6.81% and an increase of EGP 7.46 bn.
alBaraka Bank was the fastest-growing Islamic bank in customer financing during the first quarter of the current year, as its portfolio jumped by 7.31% during the first quarter of the current year, with an increase of EGP 2.586 bn, reaching around EGP 38 bn by the end of March 2023, compared to EGP 35.4 bn by the end of 2022.
On the other hand, Abu Dhabi Islamic Bank - Egypt, the largest in terms of growth value, saw its customer financing increase to EGP 63.5 bn by the end of March 2023, compared to EGP 59.4 bn by the end of 2022, with a growth rate of 6.9% and an increase of EGP 4.1 bn.
As for total loans of Faisal Islamic Bank to customers, they increased from EGP 14.55 bn by the end of 2022 to EGP 15.29 bn by the end of the first quarter of 2023, with a growth rate of 5.15% and an increase of EGP 748.63 mn.
