saib, Faisal Bank, and SC Bank, fastest growing listed banks on FirstBank composite growth index during Q1-2024
First Bank
First Bank Composite Growth Index For Listed Banks Revealed saib Topping The List With A Composite Growth Rate Of 77.89% During the first quarter of The current Year.
This Was Driven by A Net Profit Growth Of 238%, With Total Asset, Customer Loan and deposit Portfolios Growing At Rates Of 27.39%, 23.80%, And 22.34%, Respectively.
The Index, Based on The Egyptian Stock Exchange, Ranks Listed Banks Using A Composite Rate That Includes Sub-Indices Related To Net Profit Growth, Asset Growth, And The Growth Of Total Loan And Deposit Portfolios From January To March 2024.
The List Included 11 Banks Listed On The Egyptian Stock Exchange by End Of March 2024. All Banks Analyzed Achieved Positive Growth Rates During Q1-2024
Returning To the List, The Second Position Was Secured By Faisal Bank With A Composite Growth Rate Of 58.88%, Primarily Fueled By A Net Profit Growth Of 179.79%, Along With Growth In Total Assets, Customer Loans, And Deposits At Rates Of 22.73%, 12.38%, And 20.61%, Respectively.
Suez Canal Bank Claimed The Third Position With A Composite Growth Rate Of 55.56%, Attributed To A Net Profit Growth Of 143.65%, And Growth In Total Customer Loan, Deposit, And Asset Portfolios At Rates Of 19.32%, 27.13%, And 32.13%, Respectively.
Abu Dhabi Islamic Bank – Egypt “ADIB” Secured The Fourth Position With A Composite Growth Rate Of 43.75%, Driven By A Net Profit Growth Of 117.33%, Along With Growth In Total Asset, Deposit, And Customer Loan Portfolios At Rates Of 18.02%, 24.14%, and 16.03%, Respectively.
The Fifth Position Went EBank With A Composite Growth Rate Of 41.50%, Primarily Influenced By A Net Profit Growth Of 105.51% During The first quarter of 2024, Accompanied By Growth In Total Asset, Customer Loan And Deposit, Portfolios At Rates Of 20.33%, 16.03%, And 24.14%, Respectively.
It’s Worth Noting That All Growth Rates Mentioned In The Analysis Are Based On Separate Financial Statements Announced By Each Bank By End Of March 2024.
Fastest listed banks on First Bank Composite Growth Index during Q1-2024
| # | Bank Name | net profits | Assets | deposits | total customer loans | Composite Growth Index % |
|---|---|---|---|---|---|---|
| 1 |
SAIB BANK |
238.03 % | 27.39 % | 22.34 % | 23.8 % | 77.89 % |
| 2 |
Faisal Islamic Bank of Egypt |
179.79 % | 22.73 % | 20.61 % | 12.38 % | 58.88 % |
| 3 |
Suez Canal Bank |
143.65 % | 32.13 % | 27.13 % | 19.32 % | 55.56 % |
| 4 |
Abu Dhabi Islamic Bank-ADIB Egypt |
117.33 % | 18.02 % | 12.83 % | 26.81 % | 43.75 % |
| 5 |
Export Development Bank of Egypt-EBank |
105.51 % | 20.33 % | 24.14 % | 16.03 % | 41.5 % |
| 6 |
Commercial International Bank-CIB |
96.35 % | 16.8 % | 17.34 % | 18 % | 37.12 % |
| 7 |
EGBANK |
69.93 % | 22.97 % | 20.95 % | 21.66 % | 33.88 % |
| 8 |
Qatar National Bank-QNB Al Ahli |
52.87 % | 16.38 % | 17.33 % | 18.47 % | 26.26 % |
| 9 |
Housing and Development Bank-HDB |
83.09 % | 6.27 % | 5.15 % | 6.62 % | 25.28 % |
| 10 |
Credit Agricole Egypt |
87.64 % | 4.11 % | 0.23 % | 6.86 % | 24.71 % |
| 11 |
alBaraka Bank Egypt |
24.99 % | 12.52 % | 10.67 % | 12.31 % | 15.12 % |
