E-Bank, ABK, Saib fastest to grow in terms net profit during H1 2022

 

Export Development Bank topped the list of the fastest growing banks in terms of net profit conducted by First Bank after its profits grew by 144.12 % to post 605.5 billion pounds at the end of June 2022, compared to 248 billion pounds in the comparable period of last year.

 

First Bank ratings list monitored the growth of net profits within 19 banks operating in the Egyptian banking sector according financial data available during the period of the analysis. 18 banks of the list have achieved positive growth rates in their net profits, while one bank recorded a decline in its net profits.

 

Al Ahli Bank of Kuwait Egypt ranked second, after achieving a growth in its net profits by 124.13%, to achieve 886.7 million pounds during the first half of 2022, compared to 395.6 million pounds during the first half of 2021.

 

Saib ranked third after its net profit jumped by 115.11%, to record 301.5 million pounds during the first half of 2022, compared to 140.1 million during the same period last year.

 

Faisal Islamic Bank of Egypt came in fourth place, after achieving a growth in its net profits by 72.12%, to record 1.747 billion pounds during the first half of this year, compared to 1.015 billion pounds during the first half of 2021.

 

Attijariwafa Bank came in fifth with a growth rate of 67.64%, to record a net profit of 370.2 million pounds during the first half of 2022, compared to 220.8 million pounds during the first half of last year, followed by Ahli United Bank in sixth place, with a growth rate of 56.05% during the same period.

 

The Arab African International Bank came in seventh place, with a growth rate of 54.08%, to record a net profit of 1.704 billion pounds during the first half of 2022, compared to 1.106 billion pounds during the first half of last year.

 

 

 

Abu Dhabi Islamic Bank was in the eighth place with a growth rate of 51.78%, after recording a net profit of 972.2 million pounds during the first half of 2022, compared to 640.5 million during the first half of 2021, followed by Emirates NBD and Abu Dhabi Commercial Banks with growth rates of 47.76% and 41.76% respectively during the same period.

 

 

The ratings mentioned in the above analysis are in accordance with the independent financial statements announced by each bank at the end of the first half of 2022.