First Bank released a list of the best banks in terms of asset coverage for deposits. Topping the list was Ara

Arab African International Bank,Egyptian banking sector,Asset portfolio,total customer deposit,Asset Coverage Ratio for Deposits,customers' deposits

AAIB, FAB Egypt, Banque du Caire, Ebank and Faisal Bank, Top banks in Asset Coverage Ratio for Deposits

FirstBank

First Bank released a list of the best banks in terms of asset coverage for deposits. Topping the list was Arab African International Bank with a coverage rate of 150% by the end of March of the previous year. The bank's deposits reached EGP 260.03 bn, while its asset portfolio amounted to EGP390.04 bn by March 2023.

Asset Coverage Ratio for Deposits reflects banks' ability to cover their customers' deposits using their asset portfolios. The ranking is based on the ratio (Assets/Deposits) × 100, and higher values indicate a higher level of safety provided by the bank to its depositors across different segments.

The list included 22 banks operating in the Egyptian banking sector, all of which showed strong coverage rates for their customers' deposits by the end of March 2023.

Following Arab African International Bank, First Abu Dhabi Bank - Egypt secured the second position with a coverage rate of 144.74%. The bank's deposits amounted to EGP190 bn, while its asset portfolio reached around EGP275 bn by the end of March 2023. Next on the list was Banque du caire with a coverage rate of 135.5% by the same period.

In the fourth place was EBank, with 129.06%. Its total deposit portfolio reached EGP80.32 bn, while its asset portfolio amounted to EGP103.67 bn by March 2023.

Faisal Islamic Bank of Egypt secured the fifth position with a coverage rate of 126.14%. Its deposits amounted to EGP 131.64 bn, and its asset portfolio reached EGP166.06 bn by the end of the same period.

Other banks that made it to the top positions included saib in sixth place with 125.74%, followed by EGBANK in seventh place with 125.45%. Credit Agricole Bank secured the eighth position with a coverage rate of 125.32%.

In the ninth place was Ahli United Bank - Egypt with a coverage rate of 123.68%, followed by alBaraka Bank in the tenth position with 123.64%, both by the end of the first quarter of the current year.

It's important to note that all the mentioned values and coverage rates are based on separate financial statements announced by each bank by the end of March 2023.

Top Banks in Asset Coverage Ratio for Deposits by March-2023end