alBaraka Bank, Faisal Bank, EBank, and Suez Canal Bank, Fastest-growing banks in personal loans during Q1-2023

According to First Bank list of banks with the highest growth rates in personal loans. alBaraka Bank topped the list with a growth rate of 24.53%, reaching EGP 4.7 bn by the end of March 2023, compared to EGP 3.7 bn by the end of December 2022.

The list, which included 17 banks in the Egyptian banking sector, revealed that 12 banks achieved positive growth rates in their personal loans, while 5 banks recorded a decline in their portfolio volumes from January to March 2023.

Faisal Bank secured the second position with a growth rate of 17.97% during the first quarter of the current year, with its personal loan portfolio reaching EGP 347.3 mn by the end of March 2023, compared to EGP294.4 mn by the end of December 2022.

EBank ranked third, as its personal loan portfolio grew by 12.67% during the first quarter of the year, reaching EGP4.3 bn by the end of March 2023, compared to EGP3.8 bn by the end of December 2022.

Suez Canal Bank claimed the fourth position with a growth rate of 12.64% during the first quarter of the current year. Its personal loan portfolio increased from EGP2.6 bn by the end of December 2022 to EGP2.9 bn by the end of March 2023. Emirates NBD Egypt followed with a growth rate of 9.91% during the same period.

saib secured the sixth position after achieving a 9.15% increase in its personal loan portfolio, reaching EGP8.5 bn by the end of March 2023, compared to EGP7.8 bn by the end of December 2022.

ABK - Egypt ranked seventh with a growth rate of 8.93% during the first quarter of the current year. Its personal loan portfolio increased from EGP11.9 bn by the end of December 2022 to EGP12.9 bn by the end of March 2023, followed by Banque du Caire with a growth rate of 6.22% during the same period.

EGBANK occupied the ninth position with a growth rate of 3.44% during the first quarter of the current year. Its personal loan portfolio reached EGP8.3 bn by the end of March 2023, compared to EGP8.01 bn by the end of December 2022.

QNB Al Ahli came in the tenth position with a growth rate of 3.29% during the first quarter of the current year. Its personal loan portfolio reached EGP35.8 bn by the end of March 2023, compared to EGP34.7 bn by the end of December 2022. HD Bank ranked eleventh with a growth rate of 3.19% 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 announced by each bank by the end of March 2023.