NBK, AAIB, and Ebank, Tops fastest-growing banks in total customer loans during H1-2023

First Bank list of Egyptian banks with the fastest growth in total customer loans during the first half of the current year revealed that NBK- Egypt topped the list with a growth rate of 23.75%, with a total portfolio of around EGP68 bn by the end of June 2023, compared to EGP54.95 bn at the end of December 2022.

The list, which included 23 banks operating in the Egyptian banking sector with available financial data during the analysis period, showed that all banks achieved positive growth rates in their total loan portfolios from January to June 2023.

Arab African International Bank came in second place with a growth rate of 20.27% during the first half of the current year, with a total customer loans of EGP151.7 bn (equivalent to $4.9 bn) by the end of June 2023, compared to EGP 126.1 bn (equivalent to $ 5.089 bn) at the end of December 2022.

Third place was taken by Ebank with a growth rate of 17.66% during the first half of the current year, with a total loan portfolio of EGP 52.7 bn by the end of June 2023, compared to EGP44.8 bn at the end of December 2022, followed by Attijariwafa bank with a growth rate of 15.25% during the same period.

As for the fifth place, it was secured by  Agricultural Bank of Egypt after achieving a growth rate of 15.11% in its total customer loan portfolio during the first half of the current year, reaching EGP69.4 bn by the end of June 2023, compared to EGP60.3 bn at the end of December 2022.

CIB ranked sixth with a growth rate of 15.02% during the first half of the current year, as its total customer loan portfolio jumped from EGP218.6 bn at the end of December 2022 to EGP251.5 bn by the end of June 2023, followed by Ahli United Bank- Egypt with a growth rate of 14.53% during the same period.

As for the eighth place, it was taken by  NBE after its total customer loan portfolio increased by 14.49% during the first half of the current year, reaching EGP1.978 tn by the end of June 2023, compared to EGP1.728 tn at the end of December 2022.

Banque du Cairo Bank ranked ninth with a growth rate of 13.40% during the first half of the current year, followed by EGBANK and ABK- Egypt in the tenth and eleventh positions with growth rates of 13% and 12.61%, respectively, during the same period.

It's worth noting that all the mentioned values and growth rates in the above analysis are based on separate financial statements issued by each bank by the end of June 2023.