HD Bank, Credit Agricole, and AAIB, Top fastest-growing banks in net interest income in H1-2023

The list of the fastest-growing banks in terms of net interest income in the first half of the current year, according to First Bank, revealed that HD Bank topped the list, with net interest income jumping by 116.09%, reaching EGP 4.530 bn in the first half of 2023, compared to EGP 2.096 bn in the first half of 2022.

The list included 21 banks operating in the Egyptian banking sector, all of which achieved positive growth rates in net income compared to returns from January to June 2023.

Returning to the list, Credit Agricole Egypt took the second position with a growth rate of 98.72%, recording a net income of EGP 3.231 bn in the first half of 2023, compared to EGP 1.626 bn in the first half of 2022. AAIB followed with a growth rate of 93.10% during the same period.

Ebank, secured the fourth position with a net interest income 90.51%, recording EGP EGP2.340 bn in the first half of 2023, compared to EGP 1.228 bn in the same period in 2022.

NBK- Egypt ranked fifth with a growth rate of 88.24%, recording a net interest income of approximately EGP 3.200 bn in the first half of the current year, compared to EGP 1.700 bn in the first half of 2022.

Abu Dhabi Islamic Bank - Egypt claimed the sixth position with a growth rate of 87.11%, as its net income from returns increased to EGP 3.833 bn in the first half of 2023, compared to EGP 2.048 bn in the first half of 2022.

Suez Canal Bank secured the seventh position with a net income growth rate of 79.46%, recording EGP 1.482 bn in the first half of 2023, compared to EGP 825.8 mn in the first half of 2022.

Ahli United Bank - Egypt ranked eighth with a growth rate of 77.66%, as its net interest income from returns increased to EGP 2.249 bn in the first half of 2023, compared to EGP 1.266 bn in the same period in 2022.

CIB - Egypt claimed the ninth position with a growth rate of 73.71%, recording net income of EGP 23.790 bn in the first half of 2023, compared to EGP 13.695 bn in the first half of 2022.

Attijariwafa bank followed in the tenth position with a growth rate of 73.14%, recording a net income of EGP 1.961 bn in the first half of 2023, compared to EGP 1.132 bn in the first half of 2022. ADCB - Egypt followed closely with a growth rate of 72.71% during the same period.

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.