Egypt’s Agriculture Bank performs exceptionally on Sustainability index

Following on the sustainability index, published weekly; the index is powered by the Research Center of First Bank to measure the extent to which banks operating in the Egyptian market are able to achieve sustainable performance, remain competitive and gain more market shares. 

This measurement is carried out through 4 sub-indicators, including growth in the main financial indicators, movement of market shares, geographical spread, and fintech development, given that these four criteria ultimately constitute the extent of its capability of achieving sustainability and competitiveness.

By applying these criteria to the Agricultural Bank of Egypt in the last 5 years, specifically from the end of 2017 until the latest available financial data at the end of June 2022; the bank has been seen achieving historical growth in its main financial indicators compared to other competitors in the banking sector, which reflected in an increase on its market shares while enjoying a strong geographical spread throughout the country. 

The bank has also succeeded in providing a distinguished digital service upon successful restructuring implemented at the current stage. 

The bank’s deposit portfolio jumped by 164.44%, to record 119 billion pounds at the end of the first half of 2022, compared to 45 billion at the end of 2017, an increase of 74 billion pounds. 

However, its loan portfolio jumped from 23 billion pounds at the end of 2017, to 60 billion pounds at the end of June 2022, achieving a growth rate of 160.87%, and an increase of 37 billion pounds.

On terms of market shares; it have witnessed collective leaps, as its assets jumped to 2% of the total assets of the banking sector at the end of the first half of 2022, compared to 1.12% at the end of 2017, to occupy the seventh place on First Bank list for the largest banks operating in Egypt in terms of assets market share.

Its loans portfolio also jumped to 1.72% of the total banking sector by the end of the first half of 2022, compared to 1.58% at the end of 2017, an increase of 0.14% in its total market share.

The bank’s deposits portfolio increased by about 0.26%, to account for 1.61% of the total banking sector at the end of June 2022, compared to 1.35% at the end of 2017.

In regards to geographical expansion, the bank owns a huge number of branches exceeding the 1210 branches spread throughout the Republic, placing it at the top of the list of the most widespread banks in the Egyptian market. 

ABE’s market share in terms of the number of branches exceeds the barrier of 26% of the total number of existing bank branches In the Egyptian market. 

However, it plans to increase the number of its branches to 2,000 during the next 5 years, to consolidate its position at the top of the list of the most widespread and to be the most capable of playing a pivotal role in achieving financial inclusion.

As for the bank’s ATMs, their number exceeds 1,170 ATMs, distributed throughout the republic, especially in the villages targeted by the Haya Karima initiative, after the Central Bank of Egypt supported the Agricultural Bank with 1,000 ATMs during 2021. The bank aims to installing 1,000 new ATMs in villages during the coming period to reduce cash transactions, and encourage electronic financial transactions.

With regard to the sub-index of digitization; the bank has witnessed a significant growth as it has begun digitizing and linking its branches to each other through a smart system, in addition to preparing a set of the best fintech services in the Egyptian banking sector, in cooperation with major international companies .The bank has also recently installed the latest generation of automated teller machines (ATMs), which carry many benefits for users, in addition to record levels of ease and security of transactions.

For additional details about the achievements of the Agricultural Bank of Egypt, its indicators, and its latest news, you can visit its profile on our website, by clicking here.