alBaraka Bank, Ebank, Faisal Bank, and Suez Canal Bank, Top fastest-growing banks in retail loans during H1-2023

The list of the fastest-growing banks in Retail loans during the first half of the current year, according to First Bank, revealed that alBaraka Bank topped the list, with its portfolio growing at a rate of 42.49%, reaching approximately EGP 6.16 bn by the end of June 2023, compared to EGP4.33 bn at the end of December 2022.

The list, which included 21 banks operating in the Egyptian banking sector, for which financial data were made available during the analysis period, showed that 18 banks achieved positive growth rates in their retail loans portfolios, while 3 banks recorded declines in their portfolios from January to June 2023.

Ebank secured the second position with a growth rate of 31.58% during the first half of the current year, registering a retail loans portfolio of about EGP 5.97 bn by the end of June 2023, compared to EGP 4.54 bn at the end of December 2022.

Faisal Islamic Bank took the third position, with its retail loans portfolio growing at a rate of 18.85% during the first half of the current year, reaching approximately EGP 2.98 bn by the end of June 2023, compared to EGP2.51 bn at the end of December 2022.

Suez Canal Bank secured the fourth position with a growth rate of 18.83% during the first half of the current year, as its retail loans portfolio jumped from EGP2.8 bn at the end of December 2022 to EGP3.3 bn by the end of June 2023, followed by Banque fu Caire with a growth rate of 15.43% during the same period.

aiBANK came in sixth place, with its retail loans portfolio increasing by 13.75%, reaching EGP6.1 bn by the end of June 2023, compared to EGP 5.3 bn at the end of December 2022.

As for the seventh position, it was taken by ABK- Egypt, with a growth rate of 13.18% during the first half of the current year, as its retail loan portfolio increased from EGP12.2 bn at the end of December 2022 to EGP13.8 bn by the end of June 2023.

NBE secured the eighth position, with its Retail loans portfolio growing at a rate of 12.72% during the first half of the current year, reaching EGP256 bn by the end of June 2023, compared to EGP227.1 bn at the end of December 2022, followed by AAIB with a growth rate of 8.85% during the same period.

Lastly, Housing and Development Bank ranked tenth, with a growth rate of 8.21% during the first half of the current year, as its retail loans portfolio reached EGP22.9 bn by the end of June 2023, compared to EGP 21.2 bn at the end of December 2022.

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