Market shares of FAB - Egypt continue to rise in 2023

The market shares of First Abu Dhabi Bank (FAB) - Egypt, witnessed a remarkable development in 2023, where it achieved collective increases in market shares, continuing its expansion in the Egyptian banking market.

First Bank monitors the development of FAB – Egypt’s market shares in the first 9M of 2023.

Asset Market

First Abu Dhabi Bank - Egypt's market shares in assets rose to 2.06% of total banking sector assets by the end of Q3 of 2023, compared to 1.81% by the end of 2022, adding about 0.25%.

Deposit Market

The Bank's share of this market rose to 2.05% of total banking sector deposits by the end of September 2023, compared to 1.62% by the end of 2022, thus succeeding in adding about 0.4% to its share.

Loan Market

Its share in the loan market jumped to 1.6% of total banking sector loans by the end of Q3 of 2023, compared to 1.2% by the end of 2022.

The Bank continues to make further progress, as revealed by its latest financial statements, which showed a net profit of EGP 8.2 bn in the first 9M of 2023, compared to EGP 2.68 bn during the same period in 2022, with a growth of 206%.

Net fees and commissions income during the first 9M of 2023 ended 30 September increased to EGP 1.5 bn by 40%, compared to the same period of last year.

Its net customer loans portfolio rose by 69.26%, after the total portfolio registered EGP 82.94 bn by the end of September 2023, compared to 49 bn by the end of December 2022.

The Bank’s customer deposits portfolio jumped by 49.51%, after the total portfolio registered EGP 326.4 bn by the end of September 2023, compared to 218.3 bn by the end of December 2022.

The bank's total assets also rose by the end of Q3 of last year, recording EGP 303.119 bn, with an increase of 47% by the end of 2022.