AAIB, EBank, CIB, and Suez Canal Bank, fastest-growing banks in corporate loans in Q1-2023

According to First bank list of fastest growing banks in corporate loans, Arab African International Bank topped with a growth rate of 19.08%. Its loan portfolio reached EGP 130.013 bn (equivalent to $4.2 bn) by the end of March 2023, compared to EGP 109.177 bn (equivalent to $4.405 bn) by the end of December 2022.

First Bank list included a total of 20 banks in the Egyptian banking sector, and all of them achieved positive growth rates in their corporate loan portfolios during the period from January to March 2023.

EBank secured the second position with a growth rate of 17.67% in the first quarter of the current year. Its total corporate loan portfolio reached EGP 47.398 bn by the end of March 2023, compared to EGP 40.281 bn by the end of December 2022.

Commercial International Bank ranked third, with a total corporate loan portfolio growth rate of 15.11% in the first 3 months of the current year. It reached EGP 190.323 bn by the end of March 2023, compared to EGP 165.346 bn by the end of December 2022.

As for the fourth position, it was taken by Suez Canal Bank, with a growth rate of 13.83% in its total corporate loan portfolio during the first quarter of the current year. It reached EGP 33.445 bn by the end of March 2023, compared to EGP 29.381 bn by the end of December 2022. Emirates NBD Egypt followed closely with a growth rate of 13.81% during the same period.

saib secured the sixth position with a growth rate of 12.75% in its total corporate loan portfolio during the first 3 months of the current year. It reached EGP 34.839 bn by the end of March 2023, compared to EGP 30.899 bn by the end of December 2022.

EGBANK ranked seventh with a growth rate of 11.84%. Its total corporate loan portfolio reached EGP 22.261 bn by the end of March 2023, compared to EGP 19.905 bn by the end of December 2022. It was followed by Ahli United Bank with a growth rate of 9.44% during the same period.

Abu Dhabi Islamic Bank (ADIB) - Egypt secured the ninth position with a growth rate of 8.58%. Its total corporate loan portfolio reached EGP 49.173 bn by the end of March 2023, compared to EGP 45.286 bn by the end of December 2022. QNB Al-Ahli followed with a growth rate of 8.22% in the first quarter of the current year.

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