EBank, Faisal Bank, and saib Top Listed Banks in Assets Coverage Ratio for Deposits by March-2023end

First Bank list for top listed banks in Asset coverage ratio for deposits revealed Export Development Bank as the leader with a coverage ratio of 129.06%. The bank's total assets amounted to EGP 103.7 bn, while deposits reached EGP80.3 bn by the end of March 2023.

The list, which included 11 banks listed on the Egyptian Stock Exchange by the end of the first quarter of 2023, revealed that all banks enjoyed strong ratios in covering their customers' deposits.

Asset coverage ratio for deposits reflects the banks' ability to cover their customers' deposits using their asset portfolios. It is classified based on the ratio (assets/deposits) × 100, and a higher ratio indicates a high level of security provided by the bank to its depositors across various segments.

Faisal Islamic Bank of Egypt secured the second position after registering an asset coverage ratio for deposits of 126.14%. The bank's total assets reached EGP166.1 bn by the end of March 2023, while its deposit portfolio recorded EGP 131.6 bn during the same period.

saib ranked third with an asset coverage ratio for deposits of 125.74% by the end of March 2023. The value of its asset portfolio amounted to EGP104.8 bin, while its deposits reached EGP83.4 bn during the same period.

EGBANK claimed the fourth position with an asset coverage ratio for deposits of 125.45% by the end of the first quarter of the current year. Its asset size reached EGP99.9 bn, and its deposit portfolio amounted to EGP79.7 bn by the end of March 2023.

Crédit Agricole Egypt ranked fifth with an asset coverage ratio for deposits of 125.32%. Total asset portfolio reached EGP85 bn, while deposit portfolio amounted to EGP 67.9 bn by the end of March 2023. Following it, alBaraka bank– Egypt secured the sixth position with 123.64% by the end of the same period.

It should be noted that all values and coverage ratios mentioned in the above analysis are based on separate financial statements announced by each bank by the end of March 2023.