CIB leads FirstBank Index of Depositors' confidence in Listed Banks At 9M-2023

First Bank index of depositors’ confidence in listed banks by the end of last September revealed that Commercial International Bank – Egypt ranked first after it succeeded in increasing its customer deposits portfolio by EGP135.8 bn during the first 9 months of the current year, to record EGP665.9 bn by the end of September 2023, compared to EGP530.1 bn by the end of December 2022.

First Bank index of depositors’ confidence measured the value of the increase in the size of deposit portfolios of 11 banks listed on the Egyptian Stock Exchange during the period from January to September 2023, and the index revealed that all banks were able to increase their customer deposits portfolios by a total value of EGP 330.2 bn during the first 9 months of 2023.

First Bank index of depositors’ confidence is an index that was launched to measure the trends and confidence of savers in linking deposits and certificates to Egyptian banks during a certain period.

The index relies on measuring the value of the increase in the balance of deposit portfolios of banks listed on Egyptian Stock Exchange, so that the largest bank that received new deposits during the period from January to September 2023 is the first bank on the index.

 Qatar National Bank Al-Ahli ranked second, after its customer deposits portfolio increased by an increase of EGP91.3 bn during the first 9 months of the current year, to reach EGP498.3 bn by the end of September 2023, compared to EGP407.1 bn by the end of December 2022.

Credit Agricole Egypt came in third place, after it managed to increase its customer deposits portfolio by an increase of EGP20.3bn during the first 9 months of the current year, after its portfolio size rose to EGP80.8 bn by the end of September 2023, compared to EGP60.5 bn by the end of December 2022.

Abu Dhabi Islamic Bank – Egypt came in fourth, after it managed to increase its customer deposits portfolio by EGP17.6 bn during the first 9 months of the current year, to reach EGP115.3 bn by the end of September 2023, compared to EGP97.7 bn by the end of December 2022.

The fifth place was won by Export Development Bank of Egypt, after its customer deposits portfolio increased by EGP13.3 bn during the first 9 months of the current year, to record EGP86.2 bn by the end of September 2023, compared to EGP72.9 bn by the end of December 2022, followed by saib bank with an increase of EGP12.6 bn during the same period.

It is worth noting that all the numbers and growth values mentioned in the analysis above are according to separate financial statements announced for each bank by the end of September 2023.