Alex Bank replaces Faisal Islamic Bank in the list of top 10 banks in deposit market

A recent monitoring by the First Bank Research Center revealed that Faisal Islamic Bank of Egypt exist from the top 10 banks in Egypt's deposit market by the end of 2023, replacing it with Alex Bank by a slight margin.

The top 10 of the list is the National Bank of Egypt (NBE), which has a 35.42% market share of total banking sector deposits, after reaching the size of its portfolio of EGP 3.60 trillion by the end of December 2023, continuing to top the Egyptian banking sector.

For the second place, Banque Misr has a market share of 18.91%, followed by Commercial International Bank with a market share of 6.64% of total banking sector deposits, with a portfolio size of EGP 675.31 bn by the end of 2023.

QNB Al-Ahli ranked fourth, achieving a market share of 5.22% of total banking sector deposits, after its portfolio size reached about EGP 530.12 bn by the end of the same period.

Arab African International Bank got fifth position with a market share of about 3.88% of total banking sector deposits, after its deposits portfolio rose to EGP 394 bn by the end of 2023.

The sixth, seventh, Banque du Caire and Abu Dhabi Islamic Bank account for 2.97% and 1.97%, respectively, of the total banking sector deposits by the end of 2023.

Agricultural Bank of Egypt is in eighth place with a market share of 1.82% of total banking sector deposits, with a portfolio size of EGP 184.25 bn by the end of December 2023.

HSBC clinches ninth place with a market share of 1.81% of total banking sector deposits, after its deposits portfolio jumped to EGP 184.06 bn by the end of December 2023.

As for the tenth position, Alex Bank, which entered the list of Top 10 Banks instead of Faisal Islamic Bank of Egypt, accounted for a 1.31% share of the total deposits of the banking sector, after the rise of its portfolio to EGP 133.34 bn by the end of 2023.