EBank, Credit Agricole, and ADIB-Egypt Fastest growing listed banks in mortgage loans At 9M-2023

First Bank list of fastest-growing banks in Mortgage loans for the first 9 months of this year revealed that Egyptian Export Development Bank topped the list with a growth rate of 71.89%, reaching EGP 731.9 mn by the end of September 2023, compared to EGP 425.8 mn at the end of December 2022.

8 listed banks increased their Mortgage loans by EGP 2.782 bn, resulting in a 11.60% growth in the total value of their mortgage loan portfolios during the first 9 months of the current year, reaching EGP 26.761 bn by the end of September 2023, compared to EGP 23.979 bn at the end of December 2022.

The list, including 10 banks listed on the Egyptian stock exchange (excluding the Suez Canal Bank due to the absence of mortgage loans), revealed that eight banks achieved positive growth rates in their real estate loan portfolios. Meanwhile, 2 banks experienced a decline in their total real estate loans from January to September 2023.

Returning to the list, Credit Agricole Egypt secured the second position with a growth rate of 69.86% during the first 9 months of the current year, with its total mortgage loan portfolio reaching EGP 825.6 mn by the end of September 2023, compared to EGP 486 mn at the end of December 2022.

Abu Dhabi Islamic Bank – Egypt claimed the third position with a growth rate of 68.95% during the first 9 months of the current year, as its mortgage loan portfolio jumped to EGP 414.5 mn by the end of September 2023, compared to EGP 245.4 mn at the end of December 2022.

Commercial International Bank – Egypt “CIB” managed to secure the fourth position with a growth rate of 20.06% during the first 9 months of the current year, with its total mortgage loan portfolio reaching EGP 4.070 bn by the end of September 2023, compared to EGP 3.390 bn at the end of December 2022.

Qatar National Bank ALAHLI claimed the fifth position with a growth rate of 17.51% during the first 9 months of the current year, as its Mortgage loan portfolio increased to EGP 5.607 bn by the end of September 2023, compared to EGP 4.771 bn at the end of December 2022.

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