Emirates NBD, HD Bank, and Attijariwafa Bank, Top fastest-growing banks in terms of net profits during H1-2023

FirstBank's list of fastest-growing banks in terms of net profits during the first half of the current year revealed that Emirates NBD- Egypt topped the list with a growth rate of 267.46%, after achieving a net profit of EGP 1.942 bn during the first half of 2023, compared to EGP528.5 mn during the first half of 2022.

First Bank's list identified the net profits of 21 banks operating in the Egyptian banking sector for the analysis period and revealed that all banks achieved positive growth rates in their net profits during the period from January to June 2023.

Returning to the list, HD Bank secured the second position with a growth rate of 150.41%, having achieved a net profit of EGP3.015 bn during the first half of 2023, compared to EGP1.204 bn during the first half of 2022.

Attijariwafa bank ranked third after its net profits grew at a rate of 146.63%, recording EGP913.2 mn during the first half of 2023, compared to EGP370.3 mn during the first half of 2022.

Credit Agricole Egypt ranked fourth, with its net profits increasing by 146.26% to reach EGP2.509 bn during the first half of 2023, compared to EGP 1.019 bn during the first half of 2022.

Ahli United Bank of Egypt claimed the fifth position on the list with a growth rate of 143.26%, recording net profits of EGP2.185 bn during the first half of 2023, compared to EGP898.2 mn during the first half of 2022.

As for the sixth position, it was taken by Suez Canal Bank, with its net profits jumping by 134.49%, achieving net profits of EGP628.042 mn during the first half of 2023, compared to EGP267.832 mn during the first half of 2022.

Abu Dhabi Islamic Bank - Egypt (ADIB) secured the seventh position with a growth rate of 114.72%, after achieving net profits of EGP2.088 bn during the first half of 2023, compared to EGP972.2 mn during the first half of 2022.

NBK - Egypt ranked eighth, with its net profits increasing by 106.74% to reach EGP 1.565 bn during the first half of 2023, compared to EGP757 mn during the first half of 2022.

Ebank came in ninth, achieving a 98.19% growth in its net profits, recording EGP 1.200 bn during the first half of 2023, compared to EGP605.5 mn during the first half of 2022. Following them was AAIB with a growth rate of 92.47% during the same period.

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