alBaraka Babk, Faisal Bank, and CIB, Top banks listed in focusing on savings certificates by June-2023 end
First Bank
FirstBank list of listed banks with the highest focus on savings and deposit certificates at the end of June last year revealed that alBaraka Bank topped the list. It held 34.97% of the bank's deposits, valued at EGP 78.61 bn, in its savings and deposit certificates portfolio by the end of June 2023. Meanwhile, the savings and deposit certificates portfolio amounted to EGP 27.49 bn by the end of the same period.
The list sheds light on the strategies of the listed banks in structuring their deposit portfolios, specifically in terms of offering savings and deposit certificates to attract more customers.
The list is based on the ratio of (savings and deposit certificates/total deposits) to provide an indicator of the extent to which a bank's deposit portfolio is concentrated in savings and deposit certificates at the end of the analysis period.
Faisal Islamic Bank secured the second position with 34.15% of its deposit portfolio, valued at EGP 132.59 bn, concentrated in savings and deposit certificates worth EGP 45.28 bn by the end of June 2023.
As for the third position, it was taken by Commercial International Bank (CIB) after 29.69% of its deposit portfolio, valued at EGP 656.42 bn by the end of June 2023, was focused on savings and deposit certificates, which recorded EGP 194.88 bn by the end of the same period.
Abu Dhabi Islamic Bank - Egypt ranked fourth, with its savings and deposit certificates portfolio capturing 27.83% of its total deposits, valued at EGP 110.63 bn, while the value of the savings and deposit certificates portfolio amounted to EGP 30.78 bn by the end of June 2023.
Qatar National Bank (QNB) came in fifth place, with its savings and deposit certificates portfolio representing 20.29% of its total deposits, valued at EGP 461.05 bn. The value of its savings and deposit certificates reached EGP 93.54 bn by the end of June 2023, followed by saib Bank with 14.25% by the end of the same period.
It should be noted that the values and concentration percentages mentioned in the analysis above are based on separate financial statements announced by each bank at the end of June 2023.
Top listed banks in focusing on Savings Certificates
| # | Bank Name | Savings Certificates by June-2023end | Total Deposits By-June-2023End | Concentration rate% |
|---|---|---|---|---|
| 1 |
alBaraka Bank Egypt |
27.489 Billion pounds | 78.607 Billion pounds | 34.97 % |
| 2 |
Faisal Islamic Bank of Egypt |
45.279 Billion pounds | 132.586 Billion pounds | 34.15 % |
| 3 |
Commercial International Bank-CIB |
194.883 Billion pounds | 656.423 Billion pounds | 29.69 % |
| 4 |
Abu Dhabi Islamic Bank-ADIB Egypt |
30.784 Billion pounds | 110.63 Billion pounds | 27.83 % |
| 5 |
Qatar National Bank-QNB Al Ahli |
93.541 Billion pounds | 461.049 Billion pounds | 20.29 % |
| 6 |
SAIB BANK |
11.945 Billion pounds | 83.818 Billion pounds | 14.25 % |
| 7 |
Export Development Bank of Egypt-EBank |
11.715 Billion pounds | 84.134 Billion pounds | 13.92 % |
| 8 |
Credit Agricole Egypt |
9.674 Billion pounds | 74.988 Billion pounds | 12.9 % |
| 9 |
EGBANK |
9.358 Billion pounds | 78.573 Billion pounds | 11.91 % |
| 10 |
Housing and Development Bank-HDB |
10.817 Billion pounds | 90.89 Billion pounds | 11.9 % |
| 11 |
Suez Canal Bank |
8.444 Billion pounds | 72.936 Billion pounds | 11.58 % |
