HD Bank, EBank, and credit Agricole, Fastest growing listed banks on FirstBank composite growth index during 2023
First Bank
First Bank Composite Growth Index For Listed Banks Revealed Housing And Development Bank Topping The List With A Composite Growth Rate Of 55.08% during the last Year.
This Was Driven By A Net Profit Growth Of 167.25%, With Total Asset, Customer Loan And deposit Portfolios Growing At Rates Of 20.72%, 19.19%, and 13.17%, Respectively.
The Index, Based On The Egyptian Stock Exchange, Ranks Listed Banks Using A Composite Rate That Includes Sub-Indices Related To Net Profit Growth, Asset Growth, And The Growth Of Total Loan And Deposit Portfolios From January To December 2023.
The List Included 11 Banks Listed On The Egyptian Stock Exchange As Of The End Of June. All Banks Analyzed Achieved Positive Growth Rates During The last Year.
Returning To The List, The Second Position Was Secured By Egyptian Export Development Bank “EBank”
With A Composite Growth Rate Of 53.94%, Primarily Fueled By A Net Profit Growth Of 153.89%, Along With Growth In Total Assets, Customer Loans, And Deposits At Rates Of 20.67%, 21.87%, And 19.32%, Respectively.
Credit Agricole – Egypt Claimed The Third Position With A Composite Growth Rate Of 53.71%, Attributed To A Net Profit Growth Of 112.57%, And Growth In Total Customer Loan, Deposit, And Asset Portfolios At Rates Of 22.01%, 39.15%, And 41.12%, Respectively.
Abu Dhabi Islamic Bank – Egypt “ADIB” Secured The Fourth Position With A Composite Growth Rate Of 48.57%, Driven By A Net Profit Growth Of 111.25%, Along With Growth In Total Asset, Deposit, And Customer Loan Portfolios At Rates Of 39.07%, 30.06%, And 13.88%, Respectively.
The Fifth Position Went Suez Canal Bank With A Composite Growth Rate Of 46.45%, Primarily Influenced By A Net Profit Growth Of 120.51% during The last Year, Accompanied By Growth In Total Asset, Customer Loan And Deposit, Portfolios At Rates Of 37.86%, 15.49%, And 11.92%, Respectively.
It’s Worth Noting That All Growth Rates Mentioned In The Analysis Are Based On Separate Financial Statements Announced By Each Bank by end of December 2023.
Fastest growing listed banks on Firstbank Composite Growth Index during 2023
| # | Bank Name | Assets Growth | deposits Growth | net profit growth | Loans Growth | Composite Growth Index |
|---|---|---|---|---|---|---|
| 1 |
Housing and Development Bank-HDB |
20.72 % | 13.17 % | 167.25 % | 19.19 % | 55.08 % |
| 2 |
Export Development Bank of Egypt-EBank |
20.67 % | 19.32 % | 153.89 % | 21.87 % | 53.94 % |
| 3 |
Credit Agricole Egypt |
41.12 % | 39.15 % | 112.57 % | 22.01 % | 53.71 % |
| 4 |
Abu Dhabi Islamic Bank-ADIB Egypt |
39.07 % | 30.06 % | 111.25 % | 13.88 % | 48.57 % |
| 5 |
Suez Canal Bank |
37.86 % | 11.92 % | 120.51 % | 15.49 % | 46.45 % |
| 6 |
Commercial International Bank-CIB |
31.39 % | 27.39 % | 78.35 % | 21.26 % | 39.6 % |
| 7 |
Qatar National Bank-QNB Al Ahli |
30.15 % | 30.23 % | 55.76 % | 16.38 % | 33.13 % |
| 8 |
EGBANK |
12.43 % | 13.13 % | 62.22 % | 18.52 % | 27.33 % |
| 9 |
SAIB BANK |
24.67 % | 16.83 % | 29.08 % | 10.46 % | 20.26 % |
| 10 |
alBaraka Bank Egypt |
15.16 % | 14.23 % | 26.72 % | 23.45 % | 19.89 % |
| 11 |
Faisal Islamic Bank of Egypt |
16.7 % | 5.53 % | -9.35 % | 10.34 % | 5.81 % |
