ADCB, Ebank, Ahli United Bank, and Suez Canal Bank, Top banks in focusing on corporate deposits

Abu Dhabi Commercial Bank (ADCB) Egypt, First Bank's list reveals, topped the chart in terms of corporate deposits concentration by the end of June last year, with its corporate deposits portfolio accounting for 83.34% of the bank's total deposits valued at EGP73.8 bn by June 2023. Meanwhile, corporate deposits portfolio reached approximately EGP61.5 bn by the same period.

The list sheds light on banks' strategies in diversifying their deposit portfolios among 21 banks in the Egyptian banking sector. The data analyzed focuses on the diversity in offering certificates and products to attract more customers. The list uses the criterion of (corporate Deposits / Total Deposits) to indicate the extent to which a bank's deposit portfolio is concentrated in institutional deposits.

Egyptian Exports Development Bank ranked second, with a concentration of 82.33%, as the bank's corporate deposits portfolio increased to EGP 84.1 bn by June 2023, while the institutional deposits portfolio amounted to EGP69.3 bn by the same period.

Ahli United Bank of Egypt secured the third position, with 80.40% of its EGP84.3 bn corporate deposits portfolio, totaling around EGP67.8 bn by June 2023.

Suez Canal Bank claimed the fourth spot with a concentration of 80.10%, accounting for EGP 72.9 bn of the bank's total deposits of EGP72.9 bn by June 2023, while the institutional deposits portfolio amounted to EGP58.4 bn by the same period.

Egyptian Gulf Bank (EGBANK) came fifth with a concentration of 75.22%, with its EGP78.6 bn corporate deposits forming a portfolio of EGP59.1 bn by June 2023.

Al Ahli Bank of Kuwait - Egypt ranked sixth on the list, with 74.34% concentration of its EGP71.4 bn institutional deposits, totaling EGP53.1 bn by June 2023.

The seventh position was secured by Arab Investment Bank (aiBANK) with a concentration rate of 71.51%, as its corporate deposits portfolio increased to EGP34.9 bn by June 2023, while the total deposits portfolio amounted to approximately EGP48.8 bn by the same period.

saib took the eighth spot with a concentration rate of 71.35%, with its institutional deposits forming a portfolio of EGP59.8 bn, while the total deposits amounted to EGP 83.8 bn by June 2023. Emirates National Bank of Dubai - Egypt followed closely with a concentration rate of 70.59% by the same period.

Finally, Credit Agricole Egypt ranked tenth, with 66.90% concentration of its EGP 75 bn corporate deposits, totaling around EGP50.2 bn by June 2023. It is important to note that the values and concentration rates mentioned in the analysis are based on separate financial statements announced by each bank by the end of June 2023.