SC Bank, aiBANK, and alBaraka, fastest-growing banks in credit cards during Q1-2024

According To First Bank List of the Fastest-Growing Banks In Credit Cards During the first quarter of the current year, Suez Canal Bank Topped The List With A Growth Rate Of 56.91%. The Bank's Credit Card Portfolio Reached EGP75.2Mn By the End Of March 2024, Compared To EGP 48 Mn By The End Of December 2023.

First Bank List Tracked Credit Card Portfolios At 21 Banks In The Egyptian Banking Sector During The Analysis Period. 20 Banks Achieved Positive Growth Rates In Their Total Credit Cards While One Bank Experienced A Decline From January To March 2024.

Returning To The List, aiBANK Came In Second Place With A Growth Rate Of 44.85% During the first quarter of this year, Reaching EGP 116.7 Mn By The End Of March 2024, Compared To EGP 80.6 Mn By The End Of December 2023.

alBaraka Bank Came in Third Place with A Growth Rate Of 41.94% During The first quarter of 2024. Its Credit Card Portfolio Reached EGP 85.2Mn By the End Of last March, Compared To EGP60.03 Mn By The End Of December 2023.

HD Bank Claimed the Fourth Position With A Growth Rate Of 35.09% During the first quarter of the current year. Its Credit Card Portfolio Reached Around EGP 172.3 Mn By The End Of March 2024, Compared To EGP 127.5 Mn By The End Of December 2023.

As For the Fifth Place, It Was Secured By Ahli United Bank With a Growth Rate Of 30.30% During the first quarter of the current year, Reaching EGP 130 Mn By The End Of March 2024, Compared To EGP 99.8 Mn By The End Of December 2023.

ADCB Egypt Came In Sixth Place With A Growth Rate Of 28% During the first quarter of the current year. It Recorded A Credit Card Portfolio Of Approximately EGP 355.9 Mn By The End Of March 2024, Compared To EGP 278 Mn By The End Of December 2023.

EBank Secured the Eighth Position with A Growth Rate Of 22%. Its Total Credit Cards Reached EGP 207.1 Mn by The End Of March 2024, Compared To EGP 169.7 Mn By The End Of December 2023, Followed By Banque Du Caire With A Growth Rate Of 16.57% During The Same Period.

Alex Bank Took the Tenth Position With A Growth Rate Of 16% During the first quarter of the current year. Its Credit Card Value Reached EGP 774.7 Mn by The End Of March 2024, Compared To EGP 667.9 Mn By The End Of December 2023.

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