CIB, QNB ALAHLI and EBank: Top listed banks on First Bank credit competitiveness index At 9M 2023

First Bank credit competitiveness index for listed banks in the first 9 months of the current year revealed the International Commercial Bank – Egypt “CIB” securing the first position.

CIB’s total loans and facilities portfolio increased to EGP 254.5 bn by the end of September 2023, compared to EGP 218.6 bn by the end of December 2022.

The index noted a overall increase in the total loans and facilities portfolios of 11 listed banks on the Egyptian Stock Exchange, with all banks collectively increasing by EGP 108.8 bn from January to September 2023.

First Bank credit competitiveness index measures the ability of listed banks on the Egyptian Stock Exchange to offer credit or loan products to attract customers, both individuals and companies. It relies on the absolute value of growth in the total customer loans, reflecting the bank’s success in building its portfolio.

Qatar National Bank ALAHLI came in second place, with its total loans and facilities portfolio reaching around EGP 259.8 bn by the end of September 2023.

Egyptian Export Development Bank secured the third position with a total loans and facilities portfolio of approximately EGP 54.082 bn by the end of September 2023.

Abu Dhabi Islamic Bank – Egypt claimed the fourth position, with a total loans and facilities portfolio of EGP 65.549 bn by the end of September 2023.

alBaraka Bank claimed the fifth position with a total loans and facilities portfolio of EGP 40.942 bn by the end of September 2023.

It’s important to note that all absolute values and growth figures mentioned above are based on sepsrate financial statements announced by each bank at the end of September 2023.