alBaraka Bank, EBank, SC Bank, and aiBANK Top fastest growing banks in retail loans in the first 9M 2023

First Bank list of the fastest growing banks in retail loans during the first 9M of this year revealed that alBaraka Bank was leading the list, after its portfolio size jumped by 60.12%, to register EGP 6.92 bn by the end of September 2023, compared to 4.32 bn by the end of December 2022.

The list that includes 21 banks operating in the Egyptian banking sector, for which financial statements were made available during the period under analysis, revealed 19 banks under analysis achieved positive growth rates in their retail loan portfolios, while two banks recorded declines in the size of their portfolios from January to September 2023.

Returning to the list, EBank ranked second with a growth rate of 51.09% during the first 9M of this year, registering the size of its retail loan portfolio EGP 6.85 by the end of September 2023, compared to 4.54 bn by the end of December 2022.

Suez Canal Bank won third place on the list after its retail loan portfolio jumped by 29.67% during the first 9M of this year, registering about EGP 3.57 bn by the end of September 2023, compared to 2.76 bn by the end of December 2022.

aiBANK held fourth place at a growth rate of 27.46% during the first 9M of this year, after its retail loan portfolio increased from EGP 5.35 bn by the end of December 2022, to 6.81 bn by the end of September 2023, followed by Banque Du Caire at a growth rate of 25.84% during the same period.

Egypt's Faisal Islamic Bank ranked sixth after its retail loan portfolio rose by 23.63%, registering EGP 3.10 bn by the end of September 2023, compared to 2.51 bn by the end of December 2022.

ABK Egypt was able to gain seventh place with a growth rate of 22.40% during the first 9M of this year, after the size of its retail loan portfolio reached EGP 14.97 bn by the end of September 2023, compared to 12.23 bn by the end of December 2022, followed by NBK Egypt with a growth rate of 17.79% during the same period.

Ahli United Bank ranked ninth after its retail loan portfolio increased at a growth rate of 14.81% during the first 9M of this year, registering EGP 3.57 bn by the end of September 2023, compared to 3.11 bn by the end of December 2022.

Arab African International Bank came in 10th place with a 13.46% growth rate in the first 9M of this year, after its retail loan portfolio rose EGP 19.24 bn by the end of September 2023, compared with 16.96 bn by the end of December 2022, followed by the Bank for Housing and Development Bank at a 13.44% growth rate during the same period.

It should be noted that all the values and growth rates mentioned in the above analysis according to the separate financial statements announced to each bank by the end of September 2023.