HD Bank, saib and ADIB Egypt, Fastest growing listed banks in syndicated loans At 9M-2023

First Bank list of listed banks with the fastest growth in syndicated loans during the first 9 months of the current year revealed that Housing and Development Bank topped the list with a growth rate of 20.94%, recording a syndicated loan portfolio size of EGP2.553 bn by the end of September 2023, compared to EGP2.111 bn by the end of December 2022.

The list, which included 10 banks listed on the Egyptian Stock Exchange (excluding Faisal Islamic Egyptian Bank), disclosed that 7 banks achieved positive growth rates in their syndicated loan portfolios, while 3 other banks recorded declines in the size of their syndicated loan portfolios from January to September 2023.

Returning to the list, saib claimed the second position after its syndicated loan portfolio jumped by 20.69% during the first 9 months of the current year, reaching EGP14.111 bn by the end of September 2023, compared to EGP11.692 bn by the end of December 2022.

Abu Dhabi Islamic Bank – Egypt secured the third position with a growth rate of 14.16% during the first 9 months of the current year, as its syndicated loan portfolio increased to about EGP 407 mn by the end of September 2023, compared to EGP356.5 mn by the end of December 2022.

Suez Canal Bank achieved the fourth position with a growth rate of 12.62% during the first 9 months of the current year, as its total syndicated loan portfolio rose to EGP10.819 bn by the end of September 2023, compared to EGP9.607 bn by the end of December 2022.

As for the fifth position, it was secured by Export Development Bank of Egypt after its syndicated loan portfolio jumped by 10.28% during the first 9 months of the current year, reaching EGP 7.433 bn by the end of September 2023, and reaching EGP6.740 bn by the end of December 2022.

It’s worth noting 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.