alBaraka Bank, EBank, Suez Canal Bank, Emirates NBD, and ABK-Egypt, fastest-growing banks in retail loans At Q1-2023

According to First Bank list of the fastest-growing banks in total retail loans during the first quarter of the current year, alBaraka Bank topped the list with a growth rate of 19.53%. Its total loan portfolio reached EGP 5.171 bn by the end of March 2023, compared to EGP 4.326 bn by the end of December 2022.

First Bank list identified the size of retail loan portfolios for 20 banks operating in the Egyptian banking sector, for which data was available during the analysis period. It revealed that 16 banks achieved positive growth rates in their total retail loans, while 4 banks recorded declines in their loan portfolios during the first quarter of 2023.

EBank secured the second position with a growth rate of 16.56% during the first quarter of the current year. Its total retail loan portfolio reached EGP 5.286 bn by the end of March 2023, compared to EGP 4.535 bn by the end of December 2022.

Suez Canal Bank ranked third with a growth rate of 12.62% during the first quarter of the current year. Its total retail loan portfolio jumped from EGP 2.757 bn by the end of December 2022 to EGP 3.105 bn by the end of March 2023.

Emirates NBD - Egypt secured the fourth position, with its total retail loan portfolio increasing by a growth rate of 10.03% during the first quarter of the current year, reaching EGP 13.748 bn by the end of March 2023, compared to EGP 13.495 bn by the end of December 2022.

As for fifth position, it was taken by ABK-Egypt, with its total retail loan portfolio growing by 9% during the first 3 months of the current year, reaching EGP 13.329 bn by the end of March 2023, compared to EGP 12.228 bn by the end of December 2022.

Faisal Islamic Bank of Egypt secured the sixth position with a growth rate of 8.97% during the first quarter of the current year. Its retail loan portfolio reached EGP 2.734 bn by the end of March 2023, compared to EGP 2.509 bn by the end of December 2022. Banque du Caire followed with a growth rate of 6.37% during the same period.

Arab African International Bank ranked eighth with a growth rate of 4.42% during the first quarter of the current year. Its total retail loan portfolio reached EGP 17.707 bn (equivalent to $572 mn) by the end of March 2023, compared to EGP 16.958 bn (equivalent to $684 mn) by the end of December 2022. QNB Alahli Bank followed with a growth rate of 4.13% during the same period.

HD Bank secured the tenth position after achieving a growth rate of 3.37% in their total retail loans during the first quarter of the current year, reaching EGP 21.908 bn by the end of March 2023, compared to EGP 21.194 bn by the end of December 2022.

It should be noted that all the values and growth rates mentioned in the above analysis are based on separate financial statements announced for each bank.