Alex Bank, alBaraka Bank, and Faisal Bank, top banks in focusing on savings certificates
First Bank
According to FirstBank list of banks concentrating on savings and deposit certificates at the end of June last year, Alex Bank topped the list, with its savings certificate portfolio accounting for 43.04% of its total deposits valued at EGP119.3 bn by the end of June 2023. Meanwhile, the savings and deposit certificate portfolio amounted to EGP51.4 bn at the same period.
The list reveals the banking corporates' strategies in shaping their deposit portfolios among 21 banks in the Egyptian banking sector. The data analyzed focused specifically on the issuance of savings and deposit certificates to attract more customers. The list is based on the ratio of savings and deposit certificates to total deposits, providing an indicator of how much a bank's deposit portfolio is concentrated in savings and deposit certificates.
alBaraka Bank secured the second position with 34.97% concentration, amounting to EGP27.5 bn in savings and deposit certificates within a total deposit portfolio valued at EGP 78.6 bn.
Faisal Islamic Bank in Egypt ranked third with a concentration of 34.15%, having a savings certificate portfolio of about EGP45.3 bn and total deposits of EGP132.6 bn by the end of June 2023. Banque du caire followed with a concentration ratio of 33.27% during the same period.
The fifth position was taken by Commercial International Bank - Egypt (CIB) with a concentration of 29.69% of its deposit portfolio in savings and deposit certificates, amounting to around EGP656.4 bn. Its savings and deposit certificates were valued at EGP 194.9 bn by the end of June 2023.
National Bank of Kuwait- Egypt secured the sixth position with a concentration of 29.18%, having EGP 26.2 bn in savings and deposit certificates within a total deposit portfolio valued at EGP89.9 bn. Abu Dhabi Islamic Bank - Egypt followed with a concentration ratio of 27.83% during the same period.
Qatar National Bank Al Ahli stood at the eighth position with a concentration of 20.29%, having EGP93.5 bn in savings and deposit certificates within a total deposit portfolio valued at EGP461 bn.
Attijariwafa Bank Egypt followed with a concentration of 17.66%, and aiBANK secured the tenth position with a concentration of 17.42%.
Values and concentration ratios mentioned above are based on separate financial statements announced by each bank at the end of June 2023.
Top banks in focusing on saving certificates by June-2023 end
| # | Bank Name | saving certificates by June-23 end | Total deposits by June -23 end | Concentration Rate |
|---|---|---|---|---|
| 1 |
Bank of Alexandria-Alex Bank |
51.368 Billion pounds | 119.346 Billion pounds | 43.04 % |
| 2 |
alBaraka Bank Egypt |
27.489 Billion pounds | 78.607 Billion pounds | 34.97 % |
| 3 |
Faisal Islamic Bank of Egypt |
45.279 Billion pounds | 132.586 Billion pounds | 34.15 % |
| 4 |
Banque Du Caire-BDC |
101.61 Billion pounds | 305.448 Billion pounds | 33.27 % |
| 5 |
Commercial International Bank-CIB |
194.883 Billion pounds | 656.423 Billion pounds | 29.69 % |
| 6 |
NBK Egypt |
26.233 Billion pounds | 89.916 Billion pounds | 29.18 % |
| 7 |
Abu Dhabi Islamic Bank-ADIB Egypt |
30.784 Billion pounds | 110.63 Billion pounds | 27.83 % |
| 8 |
Qatar National Bank-QNB Al Ahli |
93.541 Billion pounds | 461.049 Billion pounds | 20.29 % |
| 9 |
Attijariwafa Bank Egypt |
10.655 Billion pounds | 60.326 Billion pounds | 17.66 % |
| 10 |
Arab Investment Bank- aiBANK |
8.503 Billion pounds | 48.821 Billion pounds | 17.42 % |
| 11 |
Al Ahli Bank of Kuwait Egypt -ABK Egypt |
12.239 Billion pounds | 71.394 Billion pounds | 17.14 % |
| 12 |
SAIB BANK |
11.945 Billion pounds | 83.818 Billion pounds | 14.25 % |
| 13 |
Emirates NBD Egypt |
13.469 Billion pounds | 95.86 Billion pounds | 14.05 % |
| 14 |
Export Development Bank of Egypt-EBank |
11.715 Billion pounds | 84.134 Billion pounds | 13.92 % |
| 15 |
Credit Agricole Egypt |
9.674 Billion pounds | 74.988 Billion pounds | 12.9 % |
| 16 |
EGBANK |
9.358 Billion pounds | 78.573 Billion pounds | 11.91 % |
| 17 |
Housing and Development Bank-HDB |
10.817 Billion pounds | 90.89 Billion pounds | 11.9 % |
| 18 |
Suez Canal Bank |
8.444 Billion pounds | 72.936 Billion pounds | 11.58 % |
| 19 |
Abu Dhabi Commercial Bank Egypt- ADCB |
8.341 Billion pounds | 73.763 Billion pounds | 11.31 % |
| 20 |
arab african international bank |
26.963 Billion pounds | 284.036 Billion pounds | 9.49 % |
| 21 |
Al Ahli united bank Egypt |
6.431 Billion pounds | 84.335 Billion pounds | 7.63 % |
