HD Bank, Credit Agricole Bank, and EBank, fastest growing listed banks in net profits during 9M-2023

According to First Bank list of the fastest-growing listed banks in net profits for the current year, HD Bank topped the list with a growth rate of 152.1%, achieving a net profit of EGP 4.419 bn in the first 9 months of 2023 compared to EGP 1.753 bn in the same period in 2022.

The list, which included 11 banks listed on the Egyptian Stock Exchange, revealed positive growth rates in the net profits of all banks during the period from January to September 2023.

Credit Agricole – Egypt secured the second position, with its net profits rising by 137.19% to reach EGP 3.806 bn in the first 9 months of 2023, compared to EGP 1.604 bn in the same period of 2022.

The third position went to the Egyptian Export Development Bank, achieving a growth rate of 128.45% and recording EGP 2.156 bn in net profits during the first 9 months of 2023, compared to EGP 943.7 mn in the first 9 months of 2022.

Abu Dhabi Islamic Bank – Egypt claimed the fourth position, with a growth rate of 121.93%, attaining a net profit of EGP 3.422 bn in the first 9 months of 2023, compared to EGP 1.542 bn in the same period of the previous year.

Suez Canal Bank secured the fifth position, with an 84.68% growth in net profits, reaching EGP 1.357 bn in the first 9 months of 2023, compared to EGP 734.8 mn in the first 9 months of 2022, followed by CIB with a growth rate of 78.05% during the same period.

It’s worth noting that all values and growth rates mentioned in the analysis are based on separate declared financial statements of each bank as of September 2023.