ABK - Egypt tops fastest growing banks in net fees and commissions income in 2023

Al Ahli Bank of Kuwait - Egypt topped First Bank list of the fastest growing banks in net fees and commissions income over the past year, with a growth rate of 204.17%, after registering EGP 1.224 bn in 2023, compared to approximately EGP 402.5 mn in 2022.

Turning to the details, the Bank achieved fees and commissions income amounted to EGP 1.6 bn in 2023, compared to EGP 649.2 mn in 2022, with a growth of 151.4% and an increase of EGP 983.1 mn.

The significant increase in fee and commission income achieved by ABK - Egypt is due to a rise in fees and commissions related to credit of 46.7% over the past year, reaching EGP 415.6 mn in 2023, compared to EGP 283.3 mn in 2022.

Other fees income also increased to EGP 1.2 bn during 2023, compared to EGP 364.3 mn during 2022, with an increase of EGP 850.1 mn.

Fee and commission expenses increased from EGP 246.7 mn in 2022 to EGP 408 mn in 2023, with a growth rate of 65.4% and an increase of EGP 161.2 mn, recording net fees and commissions income at ABK - Egypt about EGP 1.2 bn in 2023.

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