ADCB seen as fastest to grow in terms of direct loans during H1\2022; First Bank Ratings

Abu Dhabi Commercial Bank - Egypt topped First Bank list of the fastest growing banks in terms of direct loans with a growth rate of 36.52%, after its total portfolio recorded 11.2 billion pounds at the end of June 2022, compared to 8.2 billion at the end of December 2021.

First Bank conducted a list to measure the fastest growing banks in terms of loans:

First Bank has come up with a list to measure the fastest growing banks operating in the Egyptian banking sector in terms of loans, whose financial data was made available for the analysis period. The analysis revealed that 17 banks of the 19 banks under analysis achieved positive growth rates in their direct loan portfolios, while two banks recorded a decline.

CIB was second followedby Ahli United Bank and Emirates NBD

CIB ranked second on the list with a growth rate of 29.12%, after the bank’s total loan portfolio recorded 64.2 billion pounds at the end of June 2022, compared to 49.8 billion at the end of December 2021.

Ahli United Bank came third after its direct loan portfolio grown by28.43%during the first half of 2022 to record EGP35.5 billion at the end of June 2022, compared to EGP27.6 billion at the end of December 2021.

Emirates NBD ranked fourth with a growth rate of 27.85% during H1\2022, bringing its total loan portfolio to EGP12 billion at the end of June 2022, compared to EGP 9.4 billion at the end of December 2021.

Furthermore, Al Baraka Islamic Bank was fifth on the list with a growth rate of 16.15%, after its total loans increased to EGP21.7 billion at the end of June 2022, compared to EGP18.7 billion at the end of December 2021.

However, Saib Bank succeeded in increasing its direct loan portfolio by 15.53% during H1\2022 pushing it to the sixth place. The bank’s total loan portfolio posted EGP 7 billion at the end of June 2022, compared to EGP 6.1 billion at the end of December 2021.

In addition, Housing and Development Bank ranked seventh with a growth rate of 14.73% during H1\2022 as its loan portfolio posted EGP 4.9 billion at the end of June 2022, compared to EGP4.2 billion at the end of December 2021.

QNB Al Ahli Bank ranked eighth, with a growth rate of 13.58%, after its direct loan portfolio recorded 65.1 billion pounds at the end of June 2022, compared to 57.3 billion at the end of December 2021, followed by Abu Dhabi Islamic Bank with a rate of 13.47% during the same period.

Attijariwafa bank came in the tenth place with a growth rate of 10.08% during H1\2022, followed by Al Ahli Bank of Kuwait - Egypt and Suez Canal bank after the two banks achieved growth rates of about 7.34% and 6.28%, respectively, during the first half of 2022.

• All values and growth rates mentioned in the above analysis are according to the independent financial statements announced on the official website of each bank.