HD Bank, EGBANK and CIB, Fastest growing listed banks in direct loans during 9M- 2023

First Bank list revealed the fastest-growing banks in direct loans during the first 9 months of the current year. HD Bank topped the list with a growth rate of 54.24%, reaching a total portfolio of EGP9.4 bn by the end of September 2023, compared to EGP6.1 bn in December 2022.  

The list, including 10 banks listed on the Egyptian Stock Exchange (excluding Faisal Islamic Bank), showed that 9 banks achieved positive growth rates in their total direct loan portfolios, while one bank experienced a decline in its direct loan portfolio from January to September 2023. Returning to the list, EGBANK, the Egyptian Gulf Bank, secured the second position with a growth rate of 53.27% in the first 9 months of the current year. Its total portfolio rose to over EGP13 bn by the end of September 2023, compared to EGP8.5 bn at the end of December 2022.  

Commercial International Bank (CIB) of Egypt claimed the third position with a growth rate of 21.88% during the first 9 months of the current year. Its total direct loan portfolio reached EGP 95.1 bn by the end of September 2023, compared to EGP78 bn at the end of December 2022.  

alBaraka Bank secured the fourth position on the list with a growth rate of 13.08% during the first 9 months of the current year. Its total direct loan portfolio reached EGP29.3 bn by the end of September 2023, compared to EGP25.9 bn at the end of December 2022.  

Qatar National Bank Al Ahli achieved a growth rate of 11.52% during the first 9 months of the current year, with its total direct loan portfolio reaching EGP77.9 bn by the end of September 2023, compared to EGP69.9 bn at the end of December 2022. Following it is Export Development Bank of Egypt (EBank) with a growth rate of 9.52% during the same period.  

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