Crédit Agricole Bank, Alex Bank, and Banque du caire, Fastest-growing banks in terms of corporate deposits during H1-2023

First Bank list of the fastest-growing banks in terms of corporate deposits during the current year's first Half revealed that Crédit Agricole Egypt topped the list with a growth rate of 38.5%. The bank's total corporate deposits reached EGP 50.2 bn by the end of June 2023, compared to EGP 36.2 bn by the end of December 2022.

First Bank list tracked the size of corporate deposits in 20 banks operating in the Egyptian banking sector that provided data during the analysis period. 17 banks achieved positive growth rates in their total institutional deposits portfolios, while 3 banks recorded decreases in their portfolio sizes from January to June 2023.

Alex Bank secured the second position with a growth rate of 37.16% during the first half of the current year, with total corporate deposits of approximately EGP 35 bn by the end of June 2023, compared to EGP 25.5 bn by the end of December 2022. Following closely, Banque du caire ranked third with a growth rate of 31.30% during the same period.

Attijariwafa bank took the fourth position with a growth rate of 22.50% during the first half of the current year, as institutional deposits at the bank increased from EGP 30.5 bn by the end of December 2022 to EGP 37.4 bn by the end of June 2023.

Ahli United Bank-Egypt secured the fifth position with a growth rate of 21.59% during the first half of the current year, recording corporate deposits of EGP 67.8 bn by the end of June 2023, compared to EGP 55.8 bn by the end of December 2022.

saib claimed the sixth position with a growth rate of 19.53% during the first half of the current year, with total corporate deposits of EGP 59.8 bn by the end of June 2023, compared to EGP 50.03 bn by the end of December 2022. Following saib, Faisal Islamic Bank of Egypt recorded a growth rate of 17.80% during the same period.

As for the eighth position, Commercial International Bank - Egypt (CIB) achieved a growth rate of 16.47% during the first half of the current year, with total corporate deposits of approximately EGP 305.4 bn by the end of June 2023, compared to EGP 262.2 bn by the end of December 2022.

Emirates NBD- Egypt secured the ninth position with a growth rate of 16.11%, with total corporate deposits of EGP 67.7 bn by the end of June 2023, compared to EGP 58.3 bn by the end of December 2022.

Ebank ranked tenth with a growth rate of 16.08% during the first half of the current year, recording total corporate deposits of EGP 69.3 bn by the end of June 2023, compared to EGP 59.7 bn by the end of December 2022. Following closely were QNB Al Ahli and Suez Canal banks with growth rates of 12.73% and 10.25%, respectively, during the same period of the current year.

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