HD Bank, Credit Agricole Bank, and ADIB Egypt, Fastest growing listed banks in net interest income during 9M- 2023

First Bank list of fastest-growing listed banks in net interest income revealed that Housing and Development Bank topped the list, with a 114.17% growth rate in net income, reaching EGP7.299 bn in the first 9 months of 2023 compared to EGP 3.408 bn in the same period of 2022.

The analysis included 11 banks listed on the Egyptian Stock Exchange, all achieving positive growth rates in net interest income from January to September 2023.

Credit Agricole Egypt came second with a growth rate of 101.27%, recording EGP 5.221 bn in net interest income during the first 9 months of 2023, compared to EGP 2.594 bn in the same period of 2022.

Abu Dhabi Islamic Bank – Egypt (ADIB) secured the third position with an 87.38% growth rate, registering a net interest income of EGP6.146 bn in the first 9 months of 2023, compared to EGP3.280 bn in the first 9 months of 2022.

Egyptian Export Development Bank (Ebank) claimed the fourth position with an 82.44% growth rate, reporting a net interest income of EGP3.793 bn in the first 9 months of 2023, compared to EGP2.079 bn in the same period of 2022.

 Suez Canal Bank ranked fifth, achieving a growth rate of 74.40% with a net interest income of EGP2.323 bn in the first 9 months of 2023, compared to EGP 1.332 bn in the first 9 months of 2022, followed by Commercial International Bank (CIB) with a growth rate of 73.12% during the same period.

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