FAB- Egypt, Ebank, AAIB, and Suez Canal Bank: Fastest Growing Banks in Total Customer Loans in Q1-2023

First Bank list of the fastest-growing banks in customer loans during the first quarter of the current year revealed that First Abu Dhabi bank- Egypt topped the list with a growth rate of 61.22%. By the end of March 2023, its total portfolio reached EGP 79 bn, compared to EGP 49 bn at the end of December 2022.

The ranking, Led by Abu Dhabi First Bank, is based on the combined results of First Abu Dhabi Bank and Bank Audi, which were merged in 2022 and renamed First Abu Dhabi Bank Egypt.

The list, comprising 22 active banks in the Egyptian banking sector, provided financial data for the period under analysis, showing that all banks achieved positive growth rates in their total loan portfolios from January to March 2023.

Export Development Bank of Egypt secured the second position with a growth rate of 17.56% during the first quarter of the year. Its total loan portfolio increased from EGP44.8 bn at the end of December 2022 to EGP52.7 bn by the end of March 2023.

Arab African International Bank claimed the third position with a growth rate of 15.35% during the first quarter of the current year. Its customer loan portfolio reached EGP145.5 bn ($4.7 bn) by the end of March 2023, compared to EGP126.1 bn ( $5.1 bn) at the end of December 2022.

Suez Canal Bank secured the fourth position, with its customer loan portfolio growing at a rate of 13.73% during the first quarter of the current year, reaching EGP36.5 bn by the end of March 2023, compared to EGP32.1 bn at the end of December 2022. Emirates NBD Egypt followed in the fifth position with a growth rate of 12.79% during the same period.

Commercial International Bank - Egypt  ranked sixth with a growth rate of 11.33% during the first quarter of the current year. Its total customer loan portfolio increased from EGP218.6 bn at the end of December 2022 to EGP243.4 bn by the end of March 2023.

saib ranked seventh, with its customer loan portfolio growing at a rate of 9.39% during the first quarter of the current year, reaching EGP45.8 bn by the end of March 2023, compared to EGP41.9 bn at the end of December 2022.

EGBANK secured the eighth position with a growth rate of 9.20% during the first quarter of the current year. Its total customer loan portfolio reached EGP31.1 bn by the end of March 2023, compared to EGP28.4 bn at the end of December 2022. NBE and QNB Alahli ranked ninth and tenth, respectively, with growth rates of 8.81% and 7.42% during the same period.

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