EBank, EGBANK, and alBaraka Bank, Fastest growing listed banks in credit cards At 9M-2023

First Bank list of the fastest-growing listed banks in credit cards for the first 9 months of this year revealed that Egyptian Export Development Bank topped the list with a growth rate of 91.26%, reaching a portfolio size of EGP 124.8 mn by the end of September 2023, compared to EGP65.3 mn by the end of December 2022.  

The list, comprising 10 banks listed on the Egyptian stock exchange, disclosed positive growth rates in the total credit card portfolios of all banks during the period from January to September 2023. Faisal Islamic Egyptian Bank was absent from the ranking due to the unavailability of its portfolio value in its financial statements.  

EGBANK, Egyptian Gulf Bank, secured the second position with a growth rate of 44.87%, reaching a credit card portfolio size of EGP 144.3 mn by the end of September 2023, compared to EGP99.6 mn by the end of December 2022. The third position went to alBaraka Bank, with a credit card portfolio growth rate of 35.61% during the first 9 months of this year, recording EGP40.3 mn by the end of September 2023, compared to EGP29.7 mn by the end of December 2022.  

Abu Dhabi Islamic Bank Egypt (ADIB) claimed the fourth spot with a growth rate of 26.91%, as its credit card portfolio reached EGP734.3 mn by the end of September 2023, compared to EGP 578.6 mn by the end of December 2022.  

Housing and Development Bank ranked fifth with a growth rate of 24.01%, reaching a credit card portfolio size of EGP 118.8 mm by the end of September 2023, compared to EGP95.8 mn by the end of December 2022. Following closely is Commercial International Bank Egypt with a growth rate of 20.81% during the same period.  

It's important to note that all values and growth rates mentioned in the analysis are based on separate financial statements announced by each bank at the end of September 2023.