Emirates NBD, Attijariwafa Bank, and credit Agricole, fastest-growing banks on First Bank Composite Growth Index

First Bank Composite Growth Index During The first 9 months of last Year Revealed That Emirates NBD -Egypt Topped The List With A Composite Growth Rate Of 68.63%, Driven By Net Profits That Jumped By 200%, While Total Portfolios Of Assets, Deposits And Loans, Increased By A Growth Rates Of 28.17%, 29.89% And 17.79%, Respectively, At 9M-2023.

The List Included 23 Banks Operating In The Egyptian Banking Sector, With Their Financial Data Available For Analysis. All The Analyzed Banks Achieved Positive Growth Rates From January To September 2023.

Attijariwafa Bank Secured The Second Position On The Index With A Composite Growth Rate Of 55.77%, This Growth Was Primarily Fueled By A 140.90% Increase In Net Profits, As Well As Growth In Asset Portfolios, Deposits, And Total Customer Loans At Rates Of 29.16%, 30.22%, and 22.80% Respectively During The First 9 Months Of The last Year.

Credit Agricole Egypt Secured The Third Position With A Composite Growth Rate Of 53.60%, Driven By A 137.19% Increase In Net Profits. Additionally, Its Asset Portfolios, Deposits, And Total Customer Loans Grew At Rates Of 33.64%, 33.50%, And 10.7% Respectively During 9M-2023.

AAIB Secured The Fourth Position With A Composite Growth Rate Of 52.62% During The First 9 months Of  last Year. This Growth Was Supported By A 92.24% Increase In Net Profits, As Well As Growth Rates Of 45.32%, 49.51%, And 23.32% In Total Asset Portfolios, Deposits, And Customer Loans Respectively.

HD Bank Claimed The Fifth Position With A Composite Growth Rate Of 46.36%, Net Profits Played A Significant Role In This Growth, Increasing By 152.16% As Well As Growth Rates Of 14.23%, 6.73%, And 12.30% In Asset Portfolios, Deposits, And Total Customer Loans Respectively During The First 9 months of 2023.

Egyptian Export Development Bank “EBank” Claimed The Sixth Position With A Composite Growth Rate Of 45.33%, Attributed To A Net Profit Growth Of 128.45%, And Growth In Asset Portfolio, Deposits, and Total Customer Loan, with Growth Rates Of 13.89%, 18.29%, And 20.67%, Respectively.

Bank ABC Came In Seventh Place With A Composite Growth Rate Of 44.51% During The First 9 months Of The last Year. Achieving Growth Rates Of 146.63% In Net Profits, and a Growth Rates Of 6.99%, 6.34%, And 10.84% In Asset Portfolios, Deposits, And Total Customer Loans Respectively.

Abu Dhabi Islamic Bank – Egypt “ADIB” Secured Eight Position With A Composite Growth Rate Of 44.26%, Driven By A Net Profit Growth Of 121.93%, Along With Growth In Total Asset, Deposit, And Customer Loan Portfolios At Rates Of 27.29%, 17.97%, And 9.84%, Respectively At The First 9 months of 2023.

 Banque Misr Secured The Tenth Position With A Composite Growth Rate Of 42.46% During The First 9 months 2023. This Growth Was Primarily Driven By A 121.68% Increase In Net Profits, Along With Growth Rates Of 12.55%, 7.16%, And 28.43% In Total Asset Portfolios, Deposits, And Customer Loans Respectively.

It's Worth Noting That All The Mentioned Growth Rates And Percentages Are Based On Separate Financial Statements Announced By Each Bank At The End Of September 2023.