EBank, Suez Canal Bank, and EGBANK, Fastest growing listed banks in net fees and commissions income

First Bank list of fastest-growing banks in net fees and commissions income during the first 9 months of the current year revealed that Egyptian Export Development Bank topped the list with a growth rate of 219.5%, reaching approximately EGP1.072 bn in the first 9 months of 2023, compared to EGP335.4 mn in the same period of 2022.

The list, comprising 10 banks listed on the Egyptian stock exchange, disclosed that all banks achieved positive growth rates in net fees and commissions income from January to September 2023. Faisal Islamic Bank was absent from the list for not disclosing net fees and commissions income.

Suez Canal Bank secured the second position with a growth rate of 157.13%, achieving a net income of about EGP 515.1 mn in the first 9 months of 2023, compared to EGP 200.3 mn in the same period of 2022.

Egyptian Gulf Bank came in third place, with a growth rate of 135.22%, recording approximately EGP466.3 mn in net fees and commissions income in the first 9 months of 2023, compared to EGP198.2 mn in the same period of 2022.

Credit Agricole Egypt ranked fourth, achieving a growth rate of 123.38%, recording EGP 1.168 bn in net fees and commissions income in the first 9 months of the current year, compared to EGP 523.1 mn in the first 9 months of 2022.

Commercial International Bank Egypt  secured the fifth position, with a growth rate of 82.01% in net fees and commissions income, reaching approximately EGP3.950 bn in the first 9 months of 2023, compared to EGP 2.170 bn in the same period of 2022.

It’s worth noting that all the mentioned values and growth rates in the analysis above are based on separate financial statements announced by each bank at the end of September 2023.