EGBANK, Ahli United Bank-Egypt, saib, and CIB, fastest-growing banks in syndicated loans during Q1-2023

EGBANK topped First bank list with a growth rate of 64.44% during the first quarter of the current year. Its loan portfolio reached EGP13.1 bn by the end of March 2023, compared to EGP8 bn at the end of December 2022.

First Bank list included a total of 17 banks in the Egyptian banking sector that provided financial data for the analysis period. It revealed that 16 banks achieved positive growth rates in their Mortgage loans, while one bank experienced a decline in its syndicated loan portfolio from January to March 2023.

In second place on the list, Ahli United Bank achieved a total loan portfolio growth rate of 38.64% during the first quarter of the current year. It increased from EGP6.6 bn at the end of December 2022 to EGP9.1 bn by the end of March 2023.

saib secured the third position after achieving a growth rate of 18.89% during the first quarter of the current year. Its total syndicated loan portfolio reached EGP13.9 bn by the end of March 2023, compared to EGP11.7 bn at the end of December 2022.

Commercial International Bank (CIB) took the fourth position with a growth rate of 16.73% during the first quarter of the current year. Its total syndicated loan portfolio reached EGP52.2 bn by the end of March 2023, compared to EGP44.7 bn at the end of December 2022.

EBank ranked fifth with a growth rate of 14.29% during the first quarter of the current year. The size of its syndicated loans increased to EGP7.7 bn by the end of March 2023, compared to EGP6.7 bn at the end of December 2022. Following EBE was Credit Agricole Egypt with a growth rate of 12.20% during the same period.

Suez Canal Bank ranked seventh after its total syndicated loan portfolio increased by a growth rate of 11.37%, reaching EGP10.7 bn by the end of March 2023, compared to EGP9.6 bn at the end of December 2022. Abu Dhabi Islamic Bank - Egypt secured the eighth position with a growth rate of 9% during the first quarter of the current year.

QNB Al Ahli came in ninth place with a growth rate of 8.52%. Its total syndicated loan portfolio reached EGP24.3 bn by the end of March 2023, compared to EGP22.4 bn at the end of December 2022. Banque du Caire Bank and ABk-Egypt followed with growth rates of 7.85% and 7.39%, respectively, during the first quarter of the current year.

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