Top 5 private sector Banks achieve increases in their market shares performance

A new monitoring by First Bank of the 5 largest private sector banks operating in the Egyptian market in terms of asset market share, according to financial statements by the end of 2023, revealed that they had all achieved slight increases in their market shares, except Faisal Islamic Bank, which experienced a marginal decline in its share over the past year.

Commercial International Bank - Egypt (CIB) continued to top the list of the top 5 private sector banks in Egypt with a market share of 5.86% of total banking sector’s assets by the end of 2023, compared to 5.56% by the end of 2022.

It is noteworthy that CIB has a strong geographical spread, with 208 branches and banking units by the end of last year, while having 7,917 employees by the end of the same period.

QNB Al Ahli ranked second, rising to 4.37% of total banking sector’s assets by the end of 2023, compared to 4.18% by the end of 2022.

QNB Al Ahli is the largest private bank operating in Egypt in terms of the number of branches, with 234 branches in addition to its headquarter by the end of 2023, while having 7209 employees by the end of the same period.

In third position, First Abu Dhabi Bank-Egypt, which is the newest member of Egypt's top 5 private banks as it ranked eighth prior to the completion of this deal.

The market share of FBA rose to 2.08% of total banking sector’s assets by the end of 2023, compared to 1.81% by the end of 2022.

The number of branches of FBA is approximately 69, throughout the Arab Republic of Egypt, according to the latest official data on the Bank.

"HSBC - Egypt" took fourth place with a market share of 1.75% of the total assets of the banking sector by the end of 2023, compared to 1.60% by the end of 2022.

It had 47 branches and 7 small units by the end of last year, while its staff recorded 1,610 by the end of the same period.

Faisal Islamic Bank ranked fifth despite a slight decline, with a market share of 1.25% of total banking sector’s assets by the end of 2023, compared to 1.33% by the end of 2022.

Faisal Islamic Bank is the lowest in terms of the number of branches, with only 41 branches in Egypt and abroad by the end of 2023, and more than 1,700 employees by the end of the same period.