Decline controls the market shares of EGBank during the first 9M of 2023

The decline dominated the market shares of the Egyptian Gulf Bank during the past year, as the increases that the Bank was able to achieve in its portfolio failed to bring about any increases in its market share or even maintain it from the decline, except its share in financial investments that it was able to increase slightly.

This was revealed by a recent monitoring conducted by First Bank of the development of market shares of EGBANK during the first 9M of last year, where its share in the asset market fell to 0.66% of the total assets of the banking sector by the end of September 2023, compared to 0.76% by the end of 2022.

Its share in the deposit market also fell marginally to 0.83% of total banking sector deposits by the end of Q3 of 2023, compared to 0.84% by the end of 2022.

The slight decline in the deposit market happens despite the Bank's share in the family sector rising slightly to 0.35% of total family sector deposits by the end of September 2023, compared to 0.34% by the end of 2022, reflecting that the main source of the decline was due to the decline in its share in the corporate market.

EGBank's market share in loans market fell to 0.66% of the total customer loans of the banking sector by the end of Q3 of 2023, compared to 0.71% by the end of 2022.

The fall in the Bank's share of the loan market was due to a decline in its share in the retail banking market to 0.98% of total banking sector retail loans by the end of September 2023, compared to 1.14% by the end of 2022.

As for the Bank's share in the financial investment market, it succeeded in raising it marginally to 0.82% of total financial investments (securities) in the banking sector by the end of September 2023, compared to 0.81% by the end of 2022.