ABK – Egypt, aiBANK, EBank, and SC Bank Top fastest-growing banks in net fees and commissions income

According To First Bank List of Banks with The Fastest Net Fees And Commissions Income during the period from January to September this year revealed that ABK-Egypt topped the list with a growth rate of 237.3%, after registering EGP 838.4 mn in the first 9M of 2023, compared with 248.5 mn during the first 9M of 2022.

The "First Bank" list monitored net fees and commissions income of 20 banks operating in the Egyptian banking sector for which the financial data were available for the analysis period. It revealed that all the banks analyzed achieved positive growth rates in their net fees and commissions income during the period from January to September 2023.

In Second Place on the List Was aiBANK, with a growth rate of 231.5%, after its net fees and commissions income rose to EGP 625.2 mn during the first 9M of 2023, compared to 188.6 mn during the first 9M of 2022.

As for the third place, EBank gained after its net fees and commissions income jumped at a growth rate of 219.5%, registering about EGP 1.072 bn during the first 9M of 2023, compared to 335.4 mn during the first 9M of 2022.

Suez Canal Bank ranked fourth with a growth rate of 157.1%, after net fees and commissions income reached EGP 515.1 during the first 9M of 2023, compared to 200.3 mn during the same period in 2022.

AAIB came in fifth place at a growth rate of 156%, after net fees and commissions income rose to EGP 2.175 bn in the first 9M of 2023, compared to 847 mn in the first 9M of 2022, followed by EGBANK at a growth rate of 135.2% during the same period.

Emirates NBD-Egypt ranked seventh with a growth rate of 131.8%, recording net fees and commissions income of EGP 825.9 mn during the first 9M of 2023, compared to 356.2 mn during the first 9M of 2022.

NBK-Egypt came in eighth place at a growth rate of 128.3%, after the value of net fees and commissions income reached about EGP 930.1 mn during the first 9M of 2023, compared to 407.4 mn during the first 9M of 2022, followed by Credit Agricole Egypt at a growth rate of 123.4% during the same period.

As For The Tenth Position, It Was Secured By Ahli United Bank-Egypt after net fees and commissions income increased at a growth rate of 121 .6%, recording EGP 699.1 mn in the first 9M of 2023, compared to 315.5 mn during the first 9M of 2022, followed by CIB at a 82.01% growth rate during the same period.

It's Worth Noting That All The Figures And Growth Rates Mentioned In The Analysis Above Are Based On Separate Financial Statements Announced By Each Bank by the end of September 2023.