HD Bank, Credit Agricole, and ADIB-Egypt: Top listed banks in ROE during At 9M-2023

First Bank list of the most efficient banks in terms of Return on Average Equity ( ROE) revealed that Housing and Development Bank topped the list with a rate of 36.79%, after achieving a net profit of EGP 4.419 bn during the first 9 months of 2023.

The list, including 11 banks listed on the Egyptian Stock Exchange, showed all banks achieving positive rates in return on average equity, reflecting their success in varying profit levels and no losses during the financial period from January to September 2023.

ROE indicates banks’ ability to invest shareholders’ equity to achieve suitable profit levels during the analysis period, with higher returns indicating the banks’ efficiency in investing their shares to achieve appropriate profit levels.

Credit Agricole Egypt secured the second position with a return on average equity of 33%, having earned a net profit of EGP 3.806 bn during the same period.

Abu Dhabi Islamic Bank – Egypt (ADIB) claimed the third position with a return on average equity of 31.99%, having achieved a net profit of EGP 3.422 bn in the first 9 months of 2023.

Commercial International Bank – Egypt (CIB) secured the fourth position with a return on equity of 29.98%, after earning a net profit of EGP 21.732 bn during the first 9 months of 2023.

Suez Canal Bank took the fifth position with a return on average equity of 21.98%, having achieved a net profit of EGP 1.357 bn during the same period.

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