Faisal Bank, alBaraka Bank, and CIB, Top listed banks in focusing on savings certificates by 2023 End
First Bank
FirstBank List Of Listed Banks With The Highest Focus On Savings And Deposit Certificates At The End Of December Of last Year, Revealed That Faisal Islamic Bank Topped The List. It Held 34.98% Of The Bank's Deposits, Valued At EGP 130.459 Bn, In Its Savings And Deposit Certificates Portfolio By The End Of December 2023. Meanwhile, The Savings And Deposit Certificates Portfolio Amounted To EGP 45.633 Bn By The End Of The Same Period.
The List Sheds Light On The Strategies Of The Listed Banks In Structuring Their Deposit Portfolios, Specifically In Terms Of Offering Savings And Deposit Certificates To Attract More Customers.
The List Is Based On The Ratio Of (Savings And Deposit Certificates/Total Deposits) To Provide An Indicator Of The Extent To Which A Bank's Deposit Portfolio Is Concentrated In Savings And Deposit Certificates At The End Of The Analysis Period.
alBaraka Bank Secured The Second Position With 34.13% Of Its Deposit Portfolio, Valued At EGP 85.007 Bn, Concentrated In Savings And Deposit Certificates Worth EGP 29.009 Bn By The End Of December 2023.
As For The Third Position, It Was Taken By Commercial International Bank (CIB) After 27.96% Of Its Deposit Portfolio, Valued At EGP 675.310 Bn By The End Of December 2023, Was Focused On Savings And Deposit Certificates, Which Recorded EGP 188.833 Bn By The End Of The Same Period.
Abu Dhabi Islamic Bank - Egypt Ranked Fourth, With Its Savings And Deposit Certificates Portfolio Capturing 25.85% Of Its Total Deposits, Valued At EGP 127.128 Bn, While The Value Of The Savings And Deposit Certificates Portfolio Amounted To EGP 32.859 Bn By The End Of December 2023
Qatar National Bank -QNB Al Ahli Came In Fifth Place, With Its Savings And Deposit Certificates Portfolio Representing 18.59 % Of Its Total Deposits, Valued At EGP 530.118 Bn. The Value Of Its Savings And Deposit Certificates Reached EGP 98.575 Bn By The End Of December 2023, Followed By EBank and saib With ratios of 13.49%. 13.24% respectively By The End Of The Same Period.
It Should Be Noted That The Values And Concentration Percentages Mentioned In The Analysis Above Are Based On Separate Financial Statements Announced By Each Bank At The End Of December 2023.
Top listed banks in focusing on savings certificates by end of 2023
| # | Bank Name | savings certificates by end of 2023 | Total deposits by end of 2023 | Concentration ratio% |
|---|---|---|---|---|
| 1 |
Faisal Islamic Bank of Egypt |
45.633 Billion pounds | 130.459 Billion pounds | 34.98 % |
| 2 |
alBaraka Bank Egypt |
29.009 Billion pounds | 85.007 Billion pounds | 34.13 % |
| 3 |
Commercial International Bank-CIB |
188.833 Billion pounds | 675.31 Billion pounds | 27.96 % |
| 4 |
Abu Dhabi Islamic Bank-ADIB Egypt |
32.859 Billion pounds | 127.128 Billion pounds | 25.85 % |
| 5 |
Qatar National Bank-QNB  |
98.575 Billion pounds | 530.118 Billion pounds | 18.59 % |
| 6 |
Export Development Bank of Egypt-EBank |
11.724 Billion pounds | 86.933 Billion pounds | 13.49 % |
| 7 |
SAIB BANK |
11.293 Billion pounds | 85.294 Billion pounds | 13.24 % |
| 8 |
Housing and Development Bank-HDB |
12.204 Billion pounds | 101.274 Billion pounds | 12.05 % |
| 9 |
EGBANK |
9.499 Billion pounds | 81.142 Billion pounds | 11.71 % |
| 10 |
Suez Canal Bank |
8.607 Billion pounds | 73.647 Billion pounds | 11.69 % |
| 11 |
Credit Agricole Egypt |
9.451 Billion pounds | 84.175 Billion pounds | 11.56 % |
