AAIB, Attijariwafa bank, and Credit Agricole Top fastest-growing banks in local currency deposits during 2023

FirstBank List Of The Fastest-Growing Banks In Local Currency Deposits During The Last Year Revealed That Arab African International Bank Topped The List With A Growth Rate Of 81.91% During The Last Year, As Its Customer Deposits In Local Currency Portfolio Reached EGP 237 Bn By The End Of December 2023, Compared To EGP 130.3 Bn By The End Of December 2022.

The List Included 18 Banks Operating In The Egyptian Banking Sector, With Their Financial Data Available For Rating By The End Of The Period Under Analysis. The List Is Based On The Size Of Deposits In Local Currency Only By The End Of December 2023.

It Revealed That 15 Banks Achieved Positive Growth Rates In Their Customer Deposits In Local Currency during The Last Year While 3 Banks Recorded Declines In The Size Of Their Deposits In Local Currency Portfolios by December 2023 end.

Attijariwafa Bank Secured the Second Position On The List After Its Customer Deposits In Local Currency Grew By 41.21% During The Last Year After Its Portfolio Recorded EGP 56.22 Bn By The End Of December 2023, Compared To EGP 39.82 Bn By The End Of December 2022.

Credit Agricole Took the Third Position With A Growth Rate 38.49% After The Size Of Its Deposits In Local Currency Portfolio Reached EGP 59.65 Bn By The End Of December 2023, Compared To EGP 43.07 Bn By The End Of December 2022.

Ahli United Bank Secured The Fourth Position With A Growth Rate Of 30.47% During The Last Year, After Its Total Deposits In Local Currency Reached EGP 71.21 Bn By The End Of December 2023, Compared To EGP 54.58 Bn By The End Of December 2022.

ADIB-Egypt Ranked Fifth With A Growth Rate Of 26.87% In Its Customer Deposit In Local Currency During The Last Year, Reaching EGP 102.17 Bn By The End Of December 2023, Compared To EGP 80.53 Bn By The End Of December 2022. It Is Followed By QNB Al Ahli With A Growth Rate Of 25.71% During The Same Period.

CIB come in Seventh position, With A Growth Rate 25.55% After The Size Of Its Deposits In Local Currency Portfolio Reached EGP 463.44 Bn By The End Of December 2023, Compared To EGP 369.14 Bn By The End Of December 2022.

Al Ahli Bank Of Kuwait – Egypt Took The Eight Position With A Growth Rate Of 23.22% In The Size Its Deposits In Local Currency During The Last Year, Reaching EGP 71.57 Bn By The End Of December 2023, Compared To EGP 58.08 Bn By The End Of December 2022 Followed By Alex Bank With A Growth Rate Of 20.03% During The Same Period.

NBK Egypt Secured The Tenth Position With A Growth Rate Of 19.61% During The Last Year, After Its Total Deposits In Local Currency Reached EGP 72.71 Bn By The End Of December 2023, Compared To EGP 60.79 Bn By The End Of December 2022, Followed By saib With A Growth Rate Of 16.51% During The Same Period.

It's Worth Noting That All The Values And Growth Rates Mentioned In The Analysis Above Are Based On Separate Financial Statements Announced By Each Bank By The End Of December 2023.