AAIB, Credit Agricole, and CIB, Top fastest-growing banks in customer deposits during H1-2023

FirstBank list of the fastest-growing banks in customer deposits during the first half of the current year revealed that the Arab African International Bank topped the list with a growth rate of 30.46%, as its total portfolio reached EGP284 bn by the end of June 2023, compared to EGP218.3 bn by the end of December 2022.

The list included 23 banks operating in the Egyptian banking sector, with their financial data available for analysis. It revealed that 22 banks achieved positive growth rates in their customer deposit portfolios, while one bank experienced a decline in its customer deposit portfolio from January to June 2023.

Credit Agricole Egypt took the second position after its customer deposit portfolio grew by 23.96% during the first half of the current year, reaching approximately EGP75 bn by the end of June 2023, compared to EGP60.5 bn by the end of December 2022.

Commercial International Bank (CIB) secured the third position on the list with a 23.82% growth rate in its customer deposit portfolio during the first half of the current year, increasing from EGP 530.1 bn by the end of December 2022 to EGP656.4 bn by the end of June 2023. It was followed by Banque du Caire with a growth rate of 22.09% from January to June 2023.

Fifth on the list was Ahli United Bank of Egypt, which achieved a 20.83% growth in its customer deposit portfolio during the first half of the current year, reaching EGP 84.3 bn by the end of June 2023, compared to EGP69.8 bn by the end of December 2022. EbanK followed with a growth rate of 15.48% during the same period.

Attijariwafa bank ranked seventh with a growth rate of 14.88% in its customer deposit portfolio during the first half of the current year, as its total deposits reached EGP60.3 bn by the end of June 2023, compared to EGP52.5 bin by the end of December 2022.

saib took the eighth position with a growth rate of 14.81% during the first half of the current year, recording total deposits of EGP83.8 bn by the end of June 2023, compared to EGP73 bn by the end of December 2022.

Agricultural Bank of Egypt secured the ninth position after its customer deposit portfolio grew by 14.27% during the first 6 months of the current year, rising from EGP141.2 bn by the end of December 2022 to EGP 161.4 bn by the end of June 2023.

QNB Al Ahli came in tenth place with a growth rate of 13.26% during the first half of the current year, as its total customer deposit portfolio reached approximately EGP461 bn by the end of June 2023, compared to EGP407.1 bn by the end of December 2022.

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