FABMISR, AAIB, and Emirates NBD, fastest-growing banks on First Bank composite growth Index
First Bank
First Bank Composite Growth Index During the Last Year Revealed That FAB-Egypt Topped the List With A Composite Growth Rate Of 73.55%, Driven By Net Profits That Jumped By 131%, While Total Portfolios Of Assets, Deposits And Loans, Increased By A Growth Rates Of 42.86%, 44.72% And 75.51%, respectively, during 2023.
The List Included 22 Banks Operating In The Egyptian Banking Sector, With Their Financial Data Available For Analysis. All The Analyzed Banks Achieved Positive Growth Rates from January to December 2023.
Arab african international Bank- AAIB Secured the second Position With A Composite Growth Rate Of 66.70%, Driven By 99% Increase In Net Profits. Additionally, Its Asset Portfolios, Deposits, and Total Customer Loans Grew At Rates Of 65.19%, 80.46%, And 29.44% respectively during 2023.
Emirates NBD -Egypt Secured the Third Position On The Index With A Composite Growth Rate Of 62.69%, Driven By Net Profits That Jumped By 173.92%, While Total Portfolios Of Assets, Deposits and Loans, Increased By A Growth Rates Of 26.93%, 20.46% And 29.44%, respectively, in 2023
HD Bank Claimed The Fourth Position With A Composite Growth Rate Of 55.07%, Net Profits Played A Significant Role In This Growth, Increasing By 167.21% As Well As Growth Rates Of 20.72%, 13.17%, And 19.19% In Asset Portfolios, Deposits, And Total Customer Loans Respectively During 2023.
Attijariwafa Bank Secured The Fifth Position On The Index With A Composite Growth Rate Of 54.77%, This Growth Was Primarily Fueled By A 93.16% Increase In Net Profits, As Well As Growth In Asset Portfolios, Deposits, And Total Customer Loans At Rates Of 43.69%, 45.45%, And 36.79% Respectively During The last Year.
Egyptian Export Development Bank “EBank” Claimed the Sixth Position With A Composite Growth Rate Of 53.93%, Attributed To A Net Profit Growth Of 153.86%, And Growth In Asset Portfolio, Deposits, And Total Customer Loans, With Growth Rates Of 20.67%, 19.32%, And 21.87%, respectively.
Credit Agricole Egypt Secured the Seventh Position With A Composite Growth Rate Of 53.71%, Driven By A 112.57% Increase In Net Profits. Additionally, Its Asset Portfolios, Deposits, And Total Customer Loans Grew At Rates Of 41.12%, 39.15%, And 22.01% Respectively during 2023.
NBK Egypt Secured the Eight Position with A Composite Growth Rate Of 52.07% During The Last Year. This Growth Was Supported By A 120.21% Increase In Net Profits, As Well As Growth Rates Of 24.23%, 25.42%, And 38.41% In Total Asset Portfolios, Deposits, And Customer Loans Respectively.
Abu Dhabi Islamic Bank – Egypt “ADIB” Secured Ninth Position with A Composite Growth Rate Of 48.56%, Driven By A Net Profit Growth Of 111.24%, Along With Growth In Total Asset, Deposit, And Customer Loan Portfolios At Rates Of 39.07%, 30.06%, And 13.88%, Respectively during 2023, followed by Banque du caire With A Composite Growth Rate Of 46.83%.
It's Worth Noting that All The Mentioned Growth Rates And Percentages Are Based On Separate Financial Statements Announced By Each Bank At The End Of December 2023.
Fastest growing banks on First Bank Composite Growth Index during 2023
| # | Bank Name | Assets | deposits | customer loans | net profits | Composite Growth Index % |
|---|---|---|---|---|---|---|
| 1 |
First Abu Dhabi Bank Egypt-FAB |
42.86 % | 44.72 % | 75.51 % | 131.11 % | 73.55 % |
| 2 |
arab african international bank |
65.19 % | 80.46 % | 22.47 % | 98.68 % | 66.7 % |
| 3 |
Emirates NBD Egypt |
26.93 % | 20.46 % | 29.44 % | 173.92 % | 62.69 % |
| 4 |
Housing and Development Bank-HDB |
20.72 % | 13.17 % | 19.19 % | 167.21 % | 55.07 % |
| 5 |
Attijariwafa Bank Egypt |
43.69 % | 45.45 % | 36.79 % | 93.16 % | 54.77 % |
| 6 |
Export Development Bank of Egypt-EBank |
20.67 % | 19.32 % | 21.87 % | 153.86 % | 53.93 % |
| 7 |
Credit Agricole Egypt |
41.12 % | 39.15 % | 22.01 % | 112.57 % | 53.71 % |
| 8 |
NBK Egypt |
24.23 % | 25.42 % | 38.41 % | 120.21 % | 52.07 % |
| 9 |
Abu Dhabi Islamic Bank-ADIB Egypt |
39.07 % | 30.06 % | 13.88 % | 111.24 % | 48.56 % |
| 10 |
Banque Du Caire-BDC |
24.9 % | 20.74 % | 29.57 % | 112.13 % | 46.83 % |
| 11 |
Suez Canal Bank |
37.86 % | 11.92 % | 15.49 % | 120.48 % | 46.44 % |
| 12 |
Commercial International Bank-CIB |
31.4 % | 27.39 % | 21.26 % | 78.35 % | 39.6 % |
| 13 |
Al Ahli Bank of Kuwait Egypt -ABK Egypt |
29.1 % | 25.56 % | 35.56 % | 66.65 % | 39.22 % |
| 14 |
Al Ahli united bank Egypt |
32.42 % | 20.02 % | 25.53 % | 64.97 % | 37.98 % |
| 15 |
BANK NXT |
10.94 % | 5.6 % | 9.13 % | 118.63 % | 36.07 % |
| 16 |
Abu Dhabi Commercial Bank Egypt- ADCB |
13.8 % | 14.76 % | 20.34 % | 92.21 % | 35.28 % |
| 17 |
Qatar National Bank-QNB  |
30.15 % | 30.23 % | 16.38 % | 55.77 % | 33.13 % |
| 18 |
Bank of Alexandria-Alex Bank |
21.72 % | 20.45 % | 7.25 % | 75.71 % | 31.28 % |
| 19 |
EGBANK |
12.43 % | 13.13 % | 18.52 % | 65.19 % | 27.32 % |
| 20 |
SAIB BANK |
24.75 % | 16.91 % | 10.53 % | 29.05 % | 20.31 % |
| 21 |
alBaraka Bank Egypt |
15.16 % | 14.23 % | 23.45 % | 26.72 % | 19.89 % |
| 22 |
Faisal Islamic Bank of Egypt |
16.7 % | 5.53 % | 10.34 % | -9.34 % | 5.81 % |
