AAIB, Credit Agricole, Attijariwafa bank and CIB Top fastest-growing banks in local currency deposits

FirstBank List Of The Fastest-Growing Banks In Local Currency Deposits During The First 9 Months Of last Year Revealed That The Arab African International Bank Topped The List With A Growth Rate Of 50.52% During The First 9 Months Of last Year, As Its customer Deposits in local currency Portfolio Reached EGP 196.1 Bn By The End Of September 2023, Compared To EGP 130.3 Bn By The End Of December 2022.

The List Included 18 Banks Operating In The Egyptian Banking Sector, With Their Financial Data Available for rating by the end of the period under Analysis. The list is based on the size of deposits in local currency only by the end of September 2023.

It Revealed That 15 Banks Achieved Positive Growth Rates In Their Customer Deposits in local currency During The First 9 Months Of last Year while 3 banks recorded declines in the size of their deposits in local currency portfolios from January to September 2023.

Credit Agricole Secured The Second Position On The List With A 31.51% Growth Rate after the size of its Deposits in local currency portfolio reached EGP 56.651 bn by the end of September 2023, compared to EGP 43.074 bn by the end of December 2022.

Attijariwafa Bank Took The Third Position After Its Customer Deposits in Local Currency Grew By 25.75% During The First 9M Of last Year after its portfolio recorded EGP 50.066 bn by the end of September 2023, compared to EGP 39.815 bn by the end of December 2022.

Forth On The List Was CIB, Which Achieved A 23.49% Growth In Its Deposit in local currency Portfolio During The First 9M Of last Year, Reaching EGP 455.858 Bn By The End Of September 2023, Compared To EGP 369.143  Bn By The End Of December 2022.

QNB Al Ahli Ranked Fifth With A Growth Rate Of 16.58% In Its Customer Deposit in Local currency Portfolio During The First 9M Of last Year, Reaching EGP 385.406 Bn By The End Of September 2023, Compared To EGP 330.601 Bn By The End Of December 2022. It is followed by ADIB-Egypt With A Growth Rate Of 14% during the same period.

Alex Bank Took The Seventh Position With A Growth Rate Of 9.70% in the size its deposits in local currency During The First 9M Of last Year, reaching EGP 104.654 Bn By The End Of September 2023, Compared To EGP 95.397 Bn By The End Of December 2022.

EBank Ranked Eighth With A Growth Rate Of 9.66% in the size its deposits in local currency During The First 9M Of last Year, moving from EGP 51.780 Bn By The End Of December 2022, to reach EGP 56.780 Bn By The End Of September 2023.

EGBANK Secured The Ninth Position with a growth rate of 9.21% During The First 9 Months Of last Year, After Its total Deposits in local currency reached EGP 58.956 bn by the end of September 2023, compared to EGP 53.986 bn by the end of December 2022, followed by Al Ahli Bank of Kuwait – Egypt with a growth rate of 8.51% during the same period.

It's Worth Noting That All The Values And Growth Rates Mentioned In The Analysis Above Are Based On Separate Financial Statements Announced By Each Bank by The End Of September 2023.