EBank, aiBANK, ABK – Egypt, and SC Bank Top fastest-growing banks in net fees and commissions income during H1-2023

According to First Bank list of banks with the fastest net fees and commissions income during the first half of the current year, EBank topped the list with a growth rate of 258.5%, recording EGP691.8 mn in the first half of 2023, compared to about EGP193 mn in the first half of 2022.

First Bank list included net fees and commissions income for 19 banks operating in the Egyptian banking sector, for which financial data were available for analysis. It revealed that all the banks achieved positive growth rates in their net fees and commissions income during the period from January to June 2023.

In second place on the list was aiBANK, with a growth rate of 253.22%, as its net fees and commissions income rose to EGP415.6 mn in the first half of 2023, compared to EGP117.7 mn during the same period in 2022.

The third position went to ABK – Egypt, a subsidiary of the Kuwaiti Ahli Bank, with a growth rate of 206.70%. Its net fees and commissions reached approximately EGP468.5 mn in the first half of 2023, compared to EGP152.8 mn in the first half of 2022.

Suez Canal Bank ranked fourth with a growth rate of 173.50%, recording approximately EGP391.4 mn in net fees and commissions income in the first half of 2023, compared to EGP 143.1 mn in the first half of 2022. It was followed by AAIB with a growth rate of 162.14% during the period from January to June of the previous year.

Credit Agricole Egypt secured the sixth position with a growth rate of 160.91%, as its net fees and commissions income reached EGP835.7 mn in the first half of 2023, compared to EGP320.3 mn during the same period in 2022.

Emirates NBD Egypt ranked seventh with a growth rate of 152.49%, reporting net fees and commissions income of EGP546.2 mn in the first half of 2023, compared to EGP216.3 mn in the first half of 2022.

Ahli United Bank-Egypt came in eighth place with a growth rate of 126.66%, reporting net income from fees and commissions of about EGP463 mn in the first half of 2023, compared to EGP204.4 mn in the first half of 2022, followed by EGBANK with a growth rate of 91.28% during the same period.

As for the tenth position, it was secured by Commercial International Bank – Egypt (CIB), with a growth rate of 91%, recording EGP2.551 bn in net fees and commissions income during the first half of 2023, compared to EGP1.336 bn in the first half of 2022.

It's worth noting that all the figures 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.