Credit Agricole, Attijariwafa Bank, and Emirates NBD, fastest growing banks in corporate deposits At 9M-2023

The list of First Bank for the fastest growing banks in corporate deposits during the first 9 months of the current year revealed that Credit Agricole - Egypt Topped The List With A Growth Rate Of 54.3%, after its total corporate deposits rose to EGP 55.9 bn at the end of September 2023, compared to EGP 36.2 bn at the end of December 2022.

First Bank List Tracked The Size Of Corporate Deposits In 22 Banks Operating In The Egyptian Banking Sector That Provided Data During The Analysis Period. 20 Banks Achieved Positive Growth Rates In Their Total Institutional Deposits Portfolios, While 2 Banks Recorded Decreases In Their Portfolio Sizes From January To September 2023.  

Returning to the list, Attijariwafa Bank won the second place with a growth rate of 43.4% during the first 9 months of the current year, to record EGP 43.8 bn at the end of September 2023, compared to EGP 30.5 bn at the end of December 2022.

Emirates NBD Egypt came in third place with a growth rate of 40.8% during the first 9 months of the current year, after the total portfolio of corporate deposits rose to EGP 82.02 bn at the end of September 2023, compared to EGP 58.3 bn at the end of December 2022, followed by Alex Bank with growth rate of 39.3% during the same period.

Arab African International Bank AAIB ranked fifth with a growth rate of 26.7% during the first 9 months of the current year, after the total portfolio of corporate deposits reached EGP 184.3 bn at the end of September 2023, compared to EGP 145.4 bn at the end of December 2022.

QNB come in  sixth place after its corporate deposits increased by 25% during the first 9 months of the current year, registering EGP 327.9 bn by the end of September 2023, compared to 262.4 bn by the end of December 2022.

Abu Dhabi Islamic Bank of Egypt -ADIB ranked seventh with a growth rate of 22.9% during the first 9 months of this year, recording the size of its corporate deposit portfolio of EGP 59.4 bn by the end of September 2023, compared to 48.3 bn by the end of December 2022.

As for the eighth position, saib with a growth rate of 22.3% during the first 9 months of this year, after registering total corporate deposits about EGP 61.2 bn by the end of September 2023, compared to 50.03 bn by the end of December 2022, followed by Ahli United Bank and Faisal Islamic Bank with growth rates of 19.6% and 19.03% respectively during the same period.

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