Islamic Banks' financing rose to EGP 119.69 bn by June-2023End
First Bank
Total financing provided by Islamic banks (alBaraka Bank, Abu Dhabi Islamic Bank, and Faisal Bank) to customers during the first Half of 2023 increased to EGP 119.69 bn by the end of last June, compared to EGP 109.60 bn by the end of 2022, with a growth rate of 9.20% and an increase of EGP 10.09 bn.
alBaraka Bank-Egypt was the fastest-growing Islamic bank in customer financing during the first half of the current year, as its portfolio jumped by 9.57% during the first Half of the current year, with an increase of EGP 3.38 bn, reaching EGP 38.76 bn by the end of June 2023, compared to EGP 35.38 bn by the end of 2022.
On the other hand, Abu Dhabi Islamic Bank - Egypt, the largest in terms of growth value, saw its customer financing increase to EGP 65.1 bn by the end of June 2023, compared to EGP 59.68 bn by the end of 2022, with a growth rate of 8.94% and an increase of EGP 5.33 bn.
As for total financing of Faisal Islamic Bank to customers, they increased from EGP 14.55 bn by the end of 2022 to EGP 15.91 bn by the end of the first Half of 2023, with a growth rate of 9.41% and an increase of EGP 1.37 bn.
