Credit Agricole bank, SC Bank, and HD Bank Top Fastest-Growing listed Banks on First Bank Composite Index during H1-2023

First Bank Composite Growth Index, Which Measures The Growth Of Listed Banks, Has Revealed Credit Agricole bank Topped the list During The First half Of 2023. With A Composite Growth Rate Of 49.84%.

This Remarkable Growth Was Primarily Fueled By A Staggering 146.26% Increase In Net Profits. Furthermore, The Bank Witnessed a Growth Rates Of 4.64%, 24.49%, And 23.96% In Total Customer Loan Portfolios, Assets, And Deposits, respectively.

First Bank Composite Index Takes Into Account The Performance Of Banks Listed On The Egyptian Stock Exchange, Evaluating Their Overall Growth Across 4 Key Indicators: Net Profits, Total Assets, And Customer Loans And Deposits Portfolios during period from January to June 2023.

All banks Listed On The Egyptian Stock Exchange, Have Managed To Achieve Positive Growth Rates During The First half of 2023.

Suez Canal Bank Secured The Second place With An Impressive Composite Growth Rate Of 42.93%. The Bank's Success Can Be Attributed To A Significant Net Profit Growth Rate Of 134.49%. Additionally, SC Bank Witnessed Growth Rates Of 16.70%, 10.84%, And 9.67% In Its Total Asset, Deposits, And Customer Loan Portfolios, Respectively, During The First Half Of 2023.

Housing And Development Bank-HD Bank Claimed The Third Position, Showcasing A Composite Growth Rate Of 41.27%. The Bank's Success Can Be Attributed Primarily To A Significant Net Profit Growth Rate Of 150.41% During The First Half Of This Year. Moreover, The Bank Experienced Growth Rates Of 6.79%, 6.32%, And 1.57% In Its Total Asset, Deposits, And Customer Loan Portfolios, Respectively.

Ranking Fourth Is Abu Dhabi Islamic Bank-Egypt Which Achieved A Composite Growth Rate Of 39% During The First Half Of This Year. This Notable Growth Can Be Attributed To A Remarkable Net Profit Increase Of 114.72%. Furthermore, The Bank Experienced Growth Rates Of 19.15%, 13.18%, And 8.94% In Its Total Asset, Deposits, And Customer Loans Portfolios, respectively.

Commercial International Bank (CIB) - Egypt Secured The Fifth Position With A Composite Growth Rate Of 36.55%. CIB's Growth Was Driven By A Substantial Net Profit Increase Of 81.93%. The Bank Also Witnessed Growth Rates Of 25.41%, 23.82%, And 15.02% In Its Total Asset, Deposits, And Customer Loans Portfolios, Respectively, During The First Half Of 2023.

It Is Important To Note That All Growth Rates Mentioned Above Are Based On Separate Announced Financial Statements Of Each Bank As Of The End Of June 2023.