Top Listed Banks in Return on Average Asset during Q1-2023: Credit Agricole bank, Faisal bank and HD Bank Take the Lead

First Bank released a list of top listed banks in terms of their Return on Average Asset (ROA) during the first quarter of the current year. Credit Agricole Egypt topped the list with a rate of 1.53% after achieving a net profit of EGP1.221 bn from January to March 2023.

The list, which included 11 banks listed on the Egyptian stock exchange, revealed that all banks achieved positive ROAs, due to the banks' ability to achieve varying levels of net profits without any losses during the period from January to March 2023.

ROA measures the efficiency of banks in investing their assets to generate net profits during the analyzed period. A higher return indicates the bank's effectiveness in utilizing its assets to achieve suitable profit levels.

Faisal Islamic Bank of Egypt secured the second position, achieving 1.35% ROA during the first quarter of 2023. This was a result of its net profit rising to EGP 2.146 bn during the same period of the current year.

As for the third position, it was obtained by Housing and Development Bank, recording 1.21% ROA from January to March 2023. The bank managed to achieve a net profit of EGP1.325 bn during that period.

Commercial International Bank Egypt claimed the fourth position after achieving 0.92% ROA, due to its net profit rising to EGP6.084 bn during the first 3 months of the current year.

Qatar National Bank Al Ahli secured the fifth position by achieving 0.90% ROA during the first quarter of the current year. It recorded a net profit of EGP4.481 bn during the same period.

It should be noted that all values used in calculating ROAs are based on separate announced financial statements of each bank at the end of March 2023.