ADCB, ABE, HDB fastest growing bank in Egypt in terms of deposits portfolio during H1 2022

ADCB deposits portfolio grows by 39.11 percent in six months managing to be the fastest growing:

Abu Dhabi Commercial Bank - Egypt topped the list of the fastest growing banks in deposits portfolio conducted by First Bank after its deposits portfolio grew by 39.11% to reach 57,185 billion pounds at the end of June 2022, compared to 41,109 billion pounds by December 2021.

First Bank list monitored the growth customer deposit portfolios within 22 banks operating in the Egyptian banking sector according financial data available during the period of the analysis. The analysis revealed that the majority of banks achieved positive growth rates on terms deposit portfolios by the end of June 2022.

ABE maintains its growth rates seizing the second place, while HDB was the third growing 24.95%

The Agricultural Bank of Egypt came in second place, with a growth rate of 29.35% as its deposit portfolio jumped from 92 billion pounds at the end of 2021 to reach 119.329 billion pounds by the end of the first half of 2022.

While the Housing and Development Bank occupied the third place with a growth rate of 24.95% after its deposits portfolio increased from 62.896 billion pounds at the end of December 2021 to 78,590 billion pounds at the end of June 2022.

NBE maintains its place at the top of banks in terms deposits

The National Bank of Egypt - the largest state-owned bank in terms of deposits portfolios - ranked fourth, with a growth rate of 16.67%, to record 2.8 trillion pounds at the end of June 2022, compared to 2.4 trillion at the end of December 2021.

However, Arab African Banks was the fifth as its deposits portfolio grown by 15.30%, to record 184.47 billion pounds at the end of June 2022, compared to 159.99 billion pounds at the end of December 2021.

QNB came in the sixth place with its deposits portfolio growing by 14.13% to record EGP 338,109 billion by the end of June 2022, followed by Ahli United Bank with a growth rate of 14.04%.

Furthermore, Attijariwafa Bank came in the eighth place bringing its deposits portfolio to 42,921 billion pounds at the end of June 2022, compared to 37,674 billion pounds at the end of December 2021, with a growth rate of 13.93%.

The National Bank of Kuwait-Egypt came in the ninth place with a growth rate of 12.15%, to record 53,701 billion pounds at the end of June 2022, compared to 47,884 billion pounds at the end of December 2021, while the Suez Canal Bank came was the last with a growth rate of 11.47%.

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