Significant Change in the Map of largest 5 Banks in Deposit Market

As competition between banks operating in the Egyptian banking sector heats up, and they are constantly seeking to strengthen their presence and spread, the list of the largest 5 banks in the deposit market has undergone a new change over the past period.

In a new monitoring by First Bank of the 5 largest banks operating in the Egyptian market in terms of the market share of deposits according to financial statements at the end of September 2023, the National Bank of Egypt maintained topping the sector far ahead of its closest competitors with a market share that exceeds 36% of total banking sector deposits by the end of September, After his portfolio rose to about EGP 3.5 tn by the end of the same period.

National Bank of Egypt has a huge network of branches, amounting to 654 branches and banking units by the end of November 2023, including 38 solar-powered branches and 60 customers with special needs branches, compared to 634 branches and banking units by the end of 2022.

In addition to its effective external presence in most continents of the world through the National Bank of Egypt (United Kingdom), NBE-Khartoum (Sudan), NBE-Juba (South Sudan), the 2 branches of the National Bank of Egypt - New York (United States of America), Shanghai (China) and representation offices in Johannesburg (South Africa), Dubai (United Arab Emirates) and Addis Ababa (Ethiopia), as well as NBE- Dubai International Financial Centre (DIFC) Limited. The Bank also has a huge network of Correspondents around the world.

Banque Misr ranked second in terms of the market share of deposits, with a share of 18.95% of the total deposits of the banking sector by the Q3 of 2023, compared to 20.13% by the end of 2022, and a slight decline happens despite the rise in the portfolio size to EGP 1.9 tn by the end of the same period.

In addition, Banque Misr is the most possessing branches of the largest 5 banks, with 822 branches and banking units in Egypt, as well as 5 branches in the United Arab Emirates, a branch in Paris and representation offices in China (Guangzhou), Russia (Moscow), South Korea (Seoul), Italy (Milan), Côte d'Ivoire (Abidjan), in addition to a representative office in Kenya Nairobi, as well as its branches for Islamic banking transactions (Kenana) by the end of September 2023, and 22,573 employees are employed by the end of the same period.

The Commercial International Bank came as the third largest bank in the deposit market, with a market share of 6.82% of total banking sector deposits by Q3 of 2023, compared with 6.18% by the end of 2022. This rise is due to the increase of its portfolio to EGP 665.9 bn by the end of the same period.

CIB has a strong geographical spread, with 210 branches and banking units at the end of last September, and 7,791 employees at the end of the same period

QNB Al-Ahli came fourth, with a market share of 5.10% of total banking sector deposits by the end of Q2 of 2023, compared to 4.74% by the end of 2022, due to a rise in its portfolio to EGP 498.3 bn by the end of the same period.

Meanwhile, QNB Al-Ahli has 232 branches in addition to its head office by Q3 of 2023, while having 7,020 employees by the end of the same period.

The new member in the largest five banks list, which was able to regain his leadership and position again after years of absence, was the African Arab International Bank. Its share jumped to 3.34% of total banking sector deposits by the end of September 2023, taking its position among the largest five banks over Banque du Caire, its closest competitor, which has a share of 2.81% at the end of the same period, ranking sixth in the banking sector.

AAIB has 99 branches, banking units and banking agencies, including 96 branches within Egypt, two branches in the United Arab Emirates and one branch in Lebanon, with a staff of 3066 employees by the end of September 2023.