The market share of ABC-Egypt increased after completing the merger with BLOM Bank

The market share of ABC-Egypt increased after completing the merger with BLOM Bank

 The merger with “Arab Banking Corporation – Egypt” contributed to a significant rise in the market shares of “ABC – Egypt,” evident in its financial portfolio.

The legal merger process was finalized between “Arab Banking Corporation” (the merging bank) and “BLOM Bank – Egypt” (the merged bank) on October 10, 2022, officially recorded in the commercial registry of “ABC – Egypt” on January 1, 2023, according to financial statements as of December 31, 2022.

First Bank highlights the evolution of market shares for “ABC – Egypt” in the first six months of the current year compared to figures before the merger:

Asset Market:

The market share in the asset market rose to 0.53% of the total banking sector assets by the end of the first half of 2023, compared to 0.14% at the end of 2022, adding approximately 0.39% to its market share.

Deposit Market:

The market share in the deposit market increased to 0.66% of the total banking sector deposits by the end of the second quarter of 2023, compared to 0.16% at the end of 2022, adding about 0.50% to its market share.

Family Sector:

The bank succeeded in raising its share in the family sector’s deposit market to 0.23% of the total family sector deposits in the banking sector by the end of the first half of 2023, compared to 0.08% at the end of 2022, adding approximately 0.15% to its share.

Loan Market:

The market share in the loan market increased to 0.47% of the total banking sector loans by the end of the second quarter of the current year, compared to 0.13% at the end of 2022, adding around 0.34% to its share in the financing market.

Retail Banking Financing Market:

The bank also succeeded in increasing its share in the retail banking financing market, reaching 0.60% of the total individual sector loans by the end of the first half of 2023, compared to 0.29% at the end of 2022.

Financial Investments Market:

The market share of “ABC – Egypt” in the securities market rose to 0.39% of the total financial investments (securities) held by Egyptian banks by the end of the first half of 2023, compared to 0.10% at the end of December 2022.

It’s worth noting that Arab Banking Corporation is steadily advancing toward providing a global banking experience to the Egyptian market, leveraging financial expertise and managerial competencies adhering to the highest global quality standards.

This is based on the ambitious vision of its parent group, the second-largest financial group in Bahrain, and its solid financial performance, digital transformation progress, and international presence in multiple banking markets worldwide. For more information and news about ABC Bank, click here