Alex Bank market shares declined in the first 9M of 2023

Alex Bank's market shares have seen slight collective declines over the past year, as the increases that the bank has achieved in its portfolios have not succeeded in bringing about any increases in its market share or even preserve it from the decline, except its share in the financial investments that it has been able to increase.

This was revealed by a recent monitoring by First Bank of the development of Alex Bank market shares during the first 9M of 2023, where the bank's market share in the asset market fell to 1.03% of total banking sector assets by the end of September, compared to 1.17% by the end of 2022.

The Bank's market share in the deposit market also fell to 1.26% of total banking sector deposits by the end of Q3 of 2023, compared to 1.29% by the end of 2022

The decline in its share of the deposit market is due to the decline in its share of the family sector market to 1.55% of the total family sector deposits in the banking sector by the end of September 2023, compared to 1.67% by the end of 2022.

In terms of the market share of Alex Bank in the loan market, it fell to 1.23% of total banking sector loans by the end of September 2023, compared to 1.49% by the end of 2022.

The decline in the Bank's share of the loan market was due to the decline in its share of the retail banking market to 3.19% of total retail loans of the banking sector by the end of Q3 of 2023, compared to 3.78% by the end of 2022.

While Alex Bank successfully added about 0.08% to its share in the financial investment market, rising to 0.81% of total financial investments (securities) in the banking sector by the end of September 2023, compared to 0.73% by the end of 2022.