Faisal Bank, EBank, and ADIB Egypt, top listed banks in Asset-to-deposit ratios At Sep-2023

First Bank list of the best-listed banks in terms of asset coverage for deposits at the end of last September revealed that Faisal Islamic Egyptian Bank topped the list with a coverage rate of 131.23%, with total assets of around EGP171 bn, while deposits recorded EGP130.3 bn by the end of September 2023.

The list, comprising 11 banks listed on the Egyptian stock exchange, revealed that all banks enjoyed strong rates in covering their customers’ deposits at the end of the financial period ending in September 2023.

The asset-to-deposit coverage ratio reflects banks’ ability to cover their customers’ deposits using their asset portfolios, classified according to the ratio (assets/deposits) × 100. A higher ratio indicates a high level of security that the bank provides to its depositors across various segments.

Egyptian Export Development Bank “EBank” secured the second position with an asset coverage ratio of 127.88%, with total assets of around EGP110.2 bn by the end of September 2023, while its deposits amounted to about EGP 86.2 bn in the same period.

Abu Dhabi Islamic Bank – Egypt “ADIB” came in third with an asset coverage ratio of 127.52%, as its asset portfolio exceeded EGP147 bn, while deposits reached EGP115.3 bn by the end of September 2023.

Saib managed to secure the fourth position with an asset-to-deposit coverage ratio of 125.31%, with total assets of around EGP107.3 bn and a deposit portfolio of EGP85.7 bn by the end of September 2023.

Credit Agricole Egypt Bank took the fifth position with a coverage ratio of 124.30%, with an asset portfolio of EGP100.4 bn and a deposit portfolio of about EGP80.8 bn by the end of September 2023, followed by Housing and Development Bank with a coverage ratio of 123.94% at the end of the same period.

It’s worth noting that all values and coverage ratios mentioned in the above analysis are based on separate declared financial statements of each bank at the end of September 2023.