Faisal Bank, alBaraka Bank, EBank, and Suez Canal Bank, Fastest-growing banks in personal loans during H1-2023

First Bank list of the fastest-growing banks in personal loans during the first half of the current year revealed that Faisal Islamic Bank topped the list with a growth rate of 55.81%. The bank's personal loan portfolio reached approximately EGP458.7 mn by the end of June 2023, compared to EGP 294.4 mn by the end of December 2022.

First Bank list included 19 banks operating in the Egyptian banking sector, for which financial data were available for analysis. It revealed that 15 banks achieved positive growth rates in their personal loan portfolios, while 4 banks experienced a decrease in their portfolios during the first half of 2023.

Returning to the list, alBaraka Bank secured the second position with a growth rate of 54.22% during the first half of the current year. Its total personal loan portfolio reached EGP5.771 bn by the end of June 2023, compared to EGP3.742 bn by the end of December 2022.

EBank claimed the third position with a growth rate of 23.19% during the first half of the current year. The bank's personal loan portfolio reached about EGP4.658 bn by the end of June 2023, compared to EGP3.781 bn by the end of December 2022.

Suez Canal Bank secured the fourth position after achieving a total personal loan portfolio growth rate of 19.85% during the first half of the current year, reaching EGP3.110 bn by the end of June 2023, compared to EGP2.595 bn by the end of December 2022.

aiBANK came in fifth place with a growth rate of 17.57% during the first half of the current year, recording a total personal loan of approximately EGP4.694 bn by the end of June 2023, compared to EGP4.222 bn by the end of December 2022.

Ahli United bank ranked sixth after its personal loan portfolio grew by 17.22% during the first half of the current year, reaching EGP 2.430 bn by the end of June 2023, compared to EGP2.730 bn by the end of December 2022. It was followed by Banque du caire with a growth rate of 15.72% during the same period.

saib claimed the eighth position with a growth rate of 13% during the first half of the current year, as its personal loan portfolio increased to EGP 8.846 bn by the end of June 2023, compared to EGP7.828 bn by the end of December 2022.

ABK – Egypt secured the ninth position with a growth rate of 12.85% from January to June of the previous year. Its total personal loan portfolio rose to EGP13.397 bn by the end of June 2023, compared to EGP11.871 bn by the end of December 2022.

Lastly, Housing and Development Bank ranked tenth with a growth rate of 9.22% during the first half of the current year. Its personal loan portfolio increased from EGP9.077 bn by the end of December 2022 to EGP9.914 bn by the end of June 2023.

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