Attijariwafa bank, NBK Egypt, and ABK-Egypt Top fastest growing banks in corporate loans in the first 9M- 2023

First Bank list of the fastest-growing banks in corporate loans during the first 9M of this year revealed that Attijariwafa Bank topped the list, with a growth rate of 26.51%, registering about EGP 31.59 bn by the end of September 2023, compared to 24.97 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 that all banks achieved positive growth rates in their corporate loans from January to September 2023.

Returning to the list, NBK Egypt ranked second with a growth rate of 26.5% during the first 9M of this year, after its corporate loan portfolio increased from EGP 44.14 bn by the end of December 2022, reaching 55.83 bn by the end of September 2023.

ABK-Egypt got third place with a growth rate of 26.31% during the first 9M of this year, registering the size of its corporate loan portfolio around EGP 28.32 by the end of September 2023, compared to 22.42 bn by the end of December 2022.

The AAIB came fourth with a growth rate of 24.97% during the first 9M of this year, recording the size of its corporate loan portfolio of about EGP 136.44 bn by the end of September 2023, compared to 109.18 bn by the end of December 2022, followed by EGBANK with a growth rate of 24.12% during the same period.

Emirates NBD-Egypt ranked sixth with a growth rate of 20.58% during the first 9M of this year, after registering the size of its corporate loan portfolio at EGP 40.89 bn by the end of September 2023, compared to 33.91 bn by the end of December 2022.

CIB was able to finish seventh at a growth rate of 19.75% during the first 9M of this year, after the size of the bank's corporate loan portfolio rose to EGP 198 bn by the end of September 2023, compared to 165.35 bn by the end of December 2022.

Al Ahli United Bank ranked eighth after its corporate loan portfolio rose by 19.21% during the first 9M of this year, registering EGP 60.07 bn by the end of September 2023, compared to 50.39 bn by the end of December 2022, followed by Banque Du Caire with a growth rate of 17.54% during the same period in 2023.

EBank held 10th position at a 17.25% growth rate in the first 9M of this year, after its corporate loan portfolio rose to EGP 47.23 bn by the end of September 2023, compared to 40.28 bn by the end of December 2022, followed by ADCB Egypt at a 13.23% 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 seperate financial statements announced to each bank by the end of September 2023.