Mixed performance of Alex Bank’s market shares
Mai El-Kafoury
Alex Bank's market shares have undergone mixed performance over the past year, as the bank has been able to raise its share in the deposit market and financial investments, but it has not been able to maintain its shares in the assets and loans markets from the decline.
This was revealed by a recent monitoring by First Bank of the development of Alex Bank market shares in 2023, where the bank's market share in the asset market fell to 1.14% of total banking assets by the end of last year, compared to 1.17% by the end of 2022.
While Alex Bank's market share in deposits rose to 1.31% of total banking sector deposits by the end of 2023, compared to 1.29% by the end of 2022.
This increase comes despite the decline in the share of the family sector market to 1.51% of the total family sector deposits in the banking sector by the end of 2023, compared to 1.67% by the end of 2022, indicating that its share in the total deposit market was higher than its share in corporate deposits.
In terms of the market share of Alex Bank in loans market, it fell to 1.21% of total banking sector loans by the end of 2023, compared to 1.49% by the end of 2022.
The fall in the Bank's share of the loans market was due to the decline in its share of the retail market to 3.12% of total retail loans of the banking sector by the end of 2023, compared to 3.78% by the end of 2022.
While Alex Bank successfully added about 0.07% to its share in the financial investment market, rising to 0.80% of total financial investments in the banking sector by the end of 2023, compared to 0.73% by the end of 2022.
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