ADCB fastest growing Gulf bank in Egypt during H1 2022
First Bank Rating Center
ADCB grows by 33.7 percent within 6 month with ElSewerky at its helm:
Abu Dhabi Commercial Bank - Egypt topped Gulf banks operating in the Egyptian market in terms of assets growth. Lead by Ihab El Swerky, ADCB succeeded in achieving a record growth rate of 33.70% in its asset portfolio jumping to 64.65 billion pounds by the end of June 2022, compared to 48.36 billion pounds by the end of 2021, with an increase of EGP 16.3 billion.
A credit rating conduct by First Bank that included seven Gulf banks operating in the Egyptian banking market, revealed that the gulf banks acquired about 8.73% of the total assets of the banking sector by the end of the first half of 2022, compared to 9.02% by the end of 2021.
The ratings list included the following banks; Abu Dhabi Commercial, Emirates NBD, Al Ahli United, Al Ahli Al Kuwait, Qatar National Al Ahli, Al Baraka Islamic, Abu Dhabi Islamic Bank
The seven banks together managed to achieve a growth of 12.60%, to record 875.89 billion pounds by the end of the first half of 2022, compared to 777.90 billion pounds by the end of 2021 with an increase of 97.98 billion pounds.
The Ahli United Bank was the second fastest growing Gulf bank, as its assets jumped to 78.60 billion pounds at the end of June 2022, compared to 64.26 billion pounds at the end of 2021, with a growth rate of 22.32%, and an increase of 14.34 billion pounds.
Qatar National Bank, which started its operations in the Egyptian market for the first time in 2013 after acquiring the National Societe Generale Bank, came third in terms of growth rate.
However, QNB was in first place in terms of the size of its asset portfolio, with a value of 400.32 billion pounds at the end of last June, compared to 354.2 billion pounds by the end of 2021, achieving a growth rate of 13.02% during the first half of this year, and an increase of 46.12 billion pounds.
Abu Dhabi Islamic Bank ranked second in terms of the value of assets, as its asset portfolio amounted to 97.48 billion pounds at the end of last June, compared to 89.45 billion pounds at the end of 2021, achieving a growth rate of 8.98 percent, and an increase of 8.03 billion pounds.
Fastest growing Gulf bank in Egypt during H1 2022
| # | Bank name | Value by June end 2022 | Value by December end 2021 | Growth rate |
|---|---|---|---|---|
| 1 |
Abu Dhabi Commercial Bank Egypt- ADCB |
64.651 billion pounds | 48.356 billion pounds | 33.7 % |
| 2 |
Al Ahli united bank Egypt |
78.603 billion pounds | 64.26 billion pounds | 22.32 % |
| 3 |
Qatar National Bank-QNB Al Ahli |
400.315 billion pounds | 354.195 billion pounds | 13.02 % |
| 4 |
Emirates NBD Egypt |
90.66 billion pounds | 82.577 billion pounds | 9.79 % |
| 5 |
Abu Dhabi Islamic Bank-ADIB Egypt |
97.482 billion pounds | 89.45 billion pounds | 8.98 % |
| 6 |
Al Ahli Bank of Kuwait Egypt -ABK Egypt |
61.414 billion pounds | 56.75 billion pounds | 8.22 % |
| 7 |
alBaraka Bank Egypt |
82.762 billion pounds | 82.315 billion pounds | 0.54 % |
