Top banks on First Bank credit competitiveness index during H1-2023: NBE and CIB in the lead

First Bank credit competitiveness index for Egyptian banks in the first half of the current year revealed NBE securing the first position on the index. The bank's total loans and facilities for its customers increased to EGP 1.978 tn by the end of June 2023, compared to EGP 1.728 tn by the end of December 2022, marking an increase of approximately EGP 250 bn.

First Bank index measures banks' ability to offer credit or loan products to attract customers, both individuals and companies. It is based on the absolute value of growth in the loan portfolio, reflecting the bank's success in increasing its loan portfolio.

its worth noting that Banque Misr is out of ranking due to lack of its financial data during the analysis period.

Egypt's CIB took the second position, with its total loan and facility portfolio reaching EGP251.5 bn by the end of June 2023, compared to EGP218.6 bn by the end of December 2022, a increase of EGP32.8 bn during the first half of the current year.

FABMisr secured the third position, with its total loans and facilities for customers increasing by EGP 31.7 bn during the first half of the current year, reaching EGP80.7 bn by the end of June 2023, compared to EGP 49 bn by the end of December 2022.

Arab African International Bank came fourth, with an increase of EGP 25.6 bn in its total portfolio during the first half of the current year, reaching EGP151.7 bn by the end of June 2023, compared to EGP126.1 bn by the end of December 2022.

QNB Al Ahli secured the fifth position with an increase of EGP23.2 bn in its total loan portfolio during the first half of the current year, reaching around EGP254 bn by the end of June 2023, compared to EGP230.8 bn by the end of December 2022, followed by Bank Du caire with an increase of about EGP 18 bn during the same period.

National Bank of Kuwait - Egypt took the seventh position after its total loan portfolio increased by approximately EGP13.1 bn during the first half of the current year, recording EGP68 bn by the end of June 2023, compared to EGP55 bn by the end of December 2022.

Egyptian Export Development Bank 'Ebank' ranked eighth with a growth value of EGP7.9 bn in its total customer loan portfolio during the first half of the current year, rising to EGP52.7 bn by the end of June 2023, compared to EGP 44.8 bn by the end of December 2022, followed by Ahli United Bank - Egypt with a growth value of EGP 7.8 bn during the same period.

Abu Dhabi Islamic Bank - Egypt 'ADIB' ranked tenth with a growth value of EGP5.3 bn during the first half of the current year, recording a total of about EGP65 bn in loans and facilities for its customers by the end of June 2023, compared to EGP59.7 bn by the end of December 2021.

It is worth mentioning that all the absolute values and growth figures mentioned above are based on the separate financial statements announced by each bank at the end of the financial period ending in June 2023.