EGBANK, ABK - Egypt, and saib Top fastest-growing banks in net fees and commissions income during Q1-2024

First Bank List of Fastest-Growing Banks In Net Fees And Commissions Income During The First 3M Of This Year, Revealed That Egyptian Gulf Bank Topped The List With A Growth Rate Of 217.66%, After Registering EGP 336.7 Mn In Q1-2024, Compared To EGP 106 Mn In 2023.

The "First Bank" List Monitored Net Fees And Commissions Income Of 21 Banks Operating In The Egyptian Banking Sector For Which The Financial Data Were Available For The Analysis Period. It Revealed That 18 Banks Achieved Positive Growth Rates In Their Net Fees And Commissions Income While 3 Banks declined During The Period From January To March 2024.

In Second Place on The List Was ABK-Egypt With A Growth Rate Of 165%, After Its Net Fees And Commissions Income Rose To EGP 476.8Mn During the first quarter of 2024, Compared To EGP179.9Mn During Q1- 2023.

Saib Secured the Third Position with A Growth Rate Of 74.17%, Achieving A Net Income Of About EGP 274.8 Mn During Q1-2024, Compared To EGP 157.7 Mn In Q1-2023.

As For the Fourth Place, Attijariwafa Bank Gained After Its Net Fees And Commissions Income Jumped At A Growth Rate Of 64.54%, Registering About EGP 284mn During Q1- 2024, Compared To EGP172.6Mn During the same period of 2023.

EGBANK Ranked Fifth with A Growth Rate Of 60.41%, After Net Fees And Commissions Income Reached EGP 384.9 Mn During the first 3 months of 2024, Compared To EGP239.9Mn During Q1- 2023.

AAIB Ranked Sixth With A Growth Rate Of 59.53%, Recording Net Fees And Commissions Income Of EGP 1.12 Bn During the first quarter of 2024, Compared To EGP703.6Mn During the Q1- 2023, Followed By Banque du caire with A Growth Rate Of 57.01% During The Same Period.

Emirates NBD-Egypt Ranked Eighth With A Growth Rate Of 47.14%, Recording Net Fees And Commissions Income Of EGP 387 mn During the first quarter of 2024, Compared To EGP263Mn During Q1-2023.

As For the Ninth Position, It Was Secured By ADCB Egypt after Net Fees And Commissions Income Increased At A Growth Rate Of 40.31%, Recording EGP 247.91 Mn During the first 3 months of 2024, Compared To EGP176.7Mn During Q1- 2023.

As For The Tenth Position, It Was Secured By HD Bank, With A Growth Rate Of 29.15%, Recording EGP 212.1 Mn In Net Fees And Commissions Income During The First quarter Of 2024, Compared To EGP 164.3 Mn In The First quarter Of 2023, Followed By Commercial International Bank – Egypt (CIB) With A Growth Rate Of 29.13% During The Same Period.

It's Worth Noting That All the Figures and Growth Rates Mentioned In The Analysis Above Are Based On Separate Financial Statements Announced By Each Bank By The End Of March 2024.