ADCB – Egypt top banks in Focusing on corporate Deposits in H1-2023
First Bank
Abu Dhabi Commercial Bank - Egypt, topped First Bank list for banks focusing on corporate deposits at the end of last June. Its portfolio accounted for 83.34% of the total customer deposits valued at EGP73.8 bn at the end of June 2023. Meanwhile, corporate deposits reached approximately EGP61.5 bn at the same period.
Abu Dhabi Commercial Bank has demonstrated strong performance since entering the Egyptian banking market in August 2020. Its assets portfolio rose to EGP 83.62 bn at the end of the first half of 2023, compared to EGP 29.88 bn at the end of June 2020, with a growth rate of 179.87% and an increase of EGP53.74 bn.
Customer deposits portfolio increased from EGP25 bn at the end of June 2020 to EGP73.76 bn at the end of the first half of 2023, showing a growth rate of 195.04% and an increase of EGP 48.76 bn.
Corporate deposits portfolio jumped by approximately 249.71%, reaching EGP61.47 bn at the end of June 2023, compared to EGP 17.58 bn at the end of the first half of 2020, with an increase estimated at about EGP43.9 bn.
Additionally, the total bank loans to customers reached EGP32.48 bn at the end of June 2023, compared to EGP 15.1 bn at the end of the first half of 2020, with a growth rate of 115.17% and an increase of EGP17.39 bn.
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