NBE and CIB top banks on First Bank index of depositor confidence during H1-2023

NBE topped first bank index for depositor confidence by successfully increasing its customer deposit portfolio by EGP 200 bn, reaching around EGP 3.4 tn by the end of June 2023, compared to EGP 3.2 tn by the end of December 2022.

First Bank index, which analyzed financial data provided by 24 banks in the Egyptian banking sector, highlighted the increase in deposit portfolios for 23 banks during the first 6 months of the current year. A bank saw a decrease, and Bnque Misr was not ranked due to the lack of financial data during the analysis period.

CIB secured the second position by increasing its customer deposit portfolio by EGP 126.3 bn during the first half of the current year, totaling approximately EGP 656.4 bn by the end of June 2023, compared to EGP 530.1 bn by the end of December 2022.

Arab African International Bank ranked third after increasing its deposit portfolio by EGP 65.7 bn during the first half of the current year, reaching around EGP 284 bn by the end of June 2023, up from EGP 218.3 bn by the end of December 2022. Banque du caire followed with an increase of EGP 55.3 bn during the same period.

In the fifth position was FABMisr, which increased its deposit portfolio by EGP 55.1 bn during the first half of the current year, reaching EGP 194.5 bn by the end of June 2023, compared to EGP 139.4 bn by the end of December 2022.

Qatar National Bank - Egypt (QNB) secured the sixth position, increasing its deposit portfolio by EGP 54 bn during the first half of the current year, reaching around EGP 461 bn by the end of June 2023, compared to EGP 407.1 bn by the end of December 2022.

Agricultural Bank of Egypt claimed the seventh position by increasing its deposit portfolio by EGP 20.2 bn during the first half of the current year, reaching EGP 161.4 bn by the end of June 2023, up from EGP 141.2 bn by the end of December 2022. It was followed by Ahli United Bank with an increase of EGP 14.5 bn during the same period.

Credit Agricole - Egypt secured the ninth position, with its deposit portfolio rising by EGP 14.5 bn during the first half of the current year, totaling about EGP 75 bn by the end of June 2023, compared to EGP 60.5 bn by the end of December 2022.

Abu Dhabi Islamic Bank - Egypt claimed the tenth position, with its customer deposit portfolio increasing by EGP 12.9 bn during the first half of the current year, reaching around EGP 110.6 bn by the end of June 2023. Ebank and saib followed with increases of EGP 11.3 bn and EGP 10.8 bn, respectively, during the same period.

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