Decline dominates Faisal Islamic Bank’s market shares in 2023

The decline dominates Faisal Islamic Bank's market shares during the first 9M of 2023, as the bank's increases in its main portfolios did not succeed in increasing its market shares, but the biggest decline was its share in the financial investment market.

In a recent monitoring conducted by First Bank to track the development of the market shares of Faisal Islamic Bank during the first 9M of 2023, it revealed that the bank lost about 0.13% of its share in the asset market to decline 1.20% of total banking assets by the end of September, compared to 1.33% by the end of 2022.

As for its share in the deposit market, it fell marginally to 1.33% of total banking sector deposits by the end of September 2023, compared to 1.44% by the end of 2022.

The decline in the share of the deposit market is due to the decline of its share in the family sector to 2.21% of total family sector deposits by the end of September 2023, compared to 2.34% by the end of 2022.

In terms of its share in the financial investment market, the Bank lost about 0.20% of its share in the financial investment market, falling to 1.92% of total financial investment (securities) in the banking sector by the end of Q3 of 2023, compared to 2.12% by the end of 2022.

The Bank's share also fell to 0.32% of total banking sector loans by the end of Q3 of 2023, compared to 0.36% by the end of 2022.

The decline in its share of the loan market happens despite its success in raising its market share in the retail banking loans market to 0.38% of total banking sector loans by the end of September 2023, compared to 0.33% by the end of 2022, but the main source of decline was in corporate loans.