alBaraka, NBK-Egypt and Emirates NBD top banks on First Bank Resource Employment Index by 2023-End

First Bank Index for Monitoring top Banks in terms of the rate of Resource Employment in the Banking Sector revealed that alBaraka Bank tops the list with an employment rate of 91.59%, this happens after alBaraka Bank employed EGP 86.77 bn of its traditional resources in total customer loans and financial investments portfolios by the end of December 2023, while the bank's total traditional resources reached about EGP 94.74 bn by the end of the same period.

This index, launched by First Bank Research Centre, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector by the end of September 2023.

Returning to the index, The National Bank of Kuwait-Egypt won the second position after achieving 91.18% resource employment rate by the end of last December, after employing EGP 110.18 bn of its traditional resources in total customer loans and financial investments portfolios, while the total traditional resources reached 120.83 bn by the end of December 2023.

Emirates NBD ranked third on the list with a resource employment rate of 90.45%, after employing about EGP 103.34 bn of its traditional resources in the total customer loans and financial investments portfolios by the end of December 2023, while the size of its traditional resources by the end of the same period reached about EGP 114.26 bn.

QNB AlAhli ranked forth with a resource recruitment rate of 87.02%, after employing EGP 517.61 bn of its total traditional resources of 594.82 bn in the portfolios of customer loans and financial investments by the end of December 2023, followed by Banque du Caire with resource employment rate of 86.06% by the end of the same period.

Ahli United Bank - Egypt took the sixth position after employing 85.90% of its total traditional resources amounted to EGP 88.72 bn by the end of December 2023, in total customer loans and financial investments portfolios amounted to EGP 103.29 bn by the end of the same period.

EGBANK got the seventh position after its resource employment rate reached 83.75%. The Bank employed EGP 74.15 bn in total customer loans and financial investments portfolios, while its total traditional resources reached 88.53 bn by the end of December 2023.

EBank was able to won the eighth position on the list after employing 82.35% of its total traditional resources amounting to EGP 82.89 bn in total customer loans and financial investments portfolios, while the total traditional resources amounted to EGP 100.66 bn by the end of December 2023.

Saib ranked ninth with a resource employment rate of 82.31%, after employing EGP 80.43 bn of its traditional resources in total customer loans and financial investments portfolio, while the total traditional resources reached 97.72 bn by the end of December 2023.

Al Ahli Bank of Kuwait – Egypt ranked tenth with a resource employment rate of 82.26%, after employing EGP 75.13 bn of its traditional resources in total customer loans and financial investments portfolio, while the total traditional resources reached 92.45 bn by the end of December 2023, followed by Housing and Development Bank with resource employment rate of 78.41% by the end of the same period.