EBank, AAIB, aiBANK, and ABK-Egypt, fastest-growing banks in terms of credit cards in H1-2023

According to First Bank list of the fastest-growing banks in credit cards during the first half of the current year, EBank topped the list with a growth rate of 47.29%. The bank's credit card portfolio reached EGP96.1 mn by the end of June 2023, compared to EGP65.3 mn by the end of December 2022.

First Bank list tracked credit card portfolios at 19 banks in the Egyptian banking sector that provided data during the analysis period. All of these banks achieved positive growth rates in their total credit cards from January to June 2023.

In the rankings, Arab African International Bank came in second place with a growth rate of 46.26% during the first half of the current year. Its credit card portfolio reached EGP637.5 mn by the end of June 2023, compared to EGP435.9 mn by the end of December 2022.

In third place was aiBANK, with a credit card growth rate of 37.17% during the first half of the current year, reaching EGP 52.6 mn by the end of June 2023, compared to EGP38.3 mn by the end of December 2022.

As for the fourth place, it was secured by ABK- Egypt with a credit card growth rate of 33.12% during the first half of the current year, reaching EGP427.8 mn by the end of June 2023, compared to EGP321.4 mn by the end of December 2022.

Fifth place went to Ahli United Bank - Egypt with a growth rate of 30.24% during the first half of the current year. It recorded a credit card portfolio of approximately EGP 54.7 mn by the end of June 2023, compared to EGP42 mn by the end of December 2022.

Abu Dhabi Commercial Bank - Egypt claimed the sixth position with a growth rate of 28.09% during the first half of the current year. Its credit card portfolio reached around EGP 170.2 mn by the end of June 2023, compared to EGP132.8 mn by the end of December 2022, followed by Banque du caire with a growth rate of 23.47% during the same period.

Emirates NBD secured the eighth position with a growth rate of 23.13%. Its total credit cards reached EGP 685.2 mn by the end of June 2023, compared to EGP 556.5 mn by the end of December 2022.

alBaraka Bank came in ninth place with a growth rate of 18.20% in credit cards during the first half of the current year, recording EGP35.1 mn by the end of June 2023, compared to EGP 29.7 mn by the end of December 2022.

Alex Bank took the tenth position with a growth rate of 17.42% during the first half of the current year. Its credit card value reached EGP497.8 mn by the end of June 2023, compared to EGP424 mn by the end of December 2022, followed by HD Bank with a growth rate of 14.55% during the same period of the current year.

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