NBE and alBaraka Bank top banks on First Bank Resource Employment Index

First Bank Index for Monitoring top Banks in terms of the rate of Resource Employment in the Banking Sector revealed that the National Bank of Egypt tops the list with an employment rate of 111.58%, exceeding the employment rate of the total banking sector of 94.97% according to data issued by the Central Bank's bulletin of the end of September.

This happens after NBE employed EGP 4.30 tn of its traditional resources in total customer loans and financial investments portfolios by the end of September 2023, while the bank's total traditional resources reached about EGP 3.85 tn, as well as other resources.

This index, launched by First Bank Research Centre, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector by the end of September 2023.

Returning to the index, alBaraka Bank won the second position after achieving 93.63% resource employment rate by the end of the period under analysis, after employing EGP 85.53 bn of its traditional resources in total customer loans and financial investments portfolios, while the total traditional resources reached 91.35 bn by the end of September 2023, followed by Banque du Caire with resource employment rate of 92.39% by the end of the same period.

The National Bank of Kuwait-Egypt ranked fourth on the list with a resource employment rate of 88.61%, after employing about EGP 95.81 bn of its traditional resources in the total customer loans and financial investments portfolios by the end of September 2023, while the size of its traditional resources by the end of the same period reached about EGP 108.12 bn.

Banque Misr ranked fifth with a resource recruitment rate of 87.51%, after employing EGP 1.78 tn of its total traditional resources of 2.03 tn in the portfolios of customer loans and financial investments by the end of September 2023.

QNB AlAhli took the sixth position after employing 87% of its total traditional resources amounted to EGP 558.97 bn by the end of September 2023, in total customer loans and financial investments portfolios amounted to EGP 486.24 bn by the end of the same period.

Ahli United Bank - Egypt got the seventh position after its resource employment rate reached 86.04%. The Bank employed EGP 83.32 bn in total customer loans and financial investments portfolios, while its total traditional resources reached 96.84 bn by the end of September 2023, followed by the Egyptian Gulf Bank with resource employment rate of 84.10% by the end of the same period.

Al Ahli Bank of Kuwait -Egypt was able to won the ninth position on the list after employing 83.41% of its total traditional resources amounting to EGP 68.71 bn in total customer loans and financial investments portfolios, while the total traditional resources amounted to EGP 82.37 bn by the end of September 2023.

EBank ranked tenth with a resource employment rate of 82.60%, after employing EGP 80.78 bn of its traditional resources in total customer loans and financial investments portfolio, while the total traditional resources reached 97.79 bn by the end of September 2023, followed by saib with a resource employment rate of 81.80% by the end of the same period.