SC Bank, and AAIB Top banks in Asset Coverage Ratio for Deposits by end of March 2024

First Bank Has Released A List Of The Best Banks In Terms Of Asset Coverage Ratio For Deposits. Suez Canal Bank Topped the List, With A Coverage Rate Of 145.27% At the End Of March 2024. The Bank's Deposits Reached EGP 93.63 Bn, While Its Asset Portfolio Amounted To EGP 136.01 Bn By March 2024 End.

Asset Coverage Ratio For Deposits Reflects Banks' Ability To Cover Their Customers' Deposits Using Their Asset Portfolios. The Ranking Is Based On The Ratio (Assets/Deposits) × 100, And Higher Values Indicate A Higher Level Of Safety Provided By The Bank To Its Depositors Across Different Segments.

The List Included 22 Banks Operating In The Egyptian Banking Sector, All Of Which Showed Strong Coverage Rates For Their Customers' Deposits By The End Of March 2024.

Arab African international Bank-AAIB Secured The Second Position With A Coverage Rate Of 143.78%. The Bank's Deposits Amounted To EGP 484.87 Bn, While Its Asset Portfolio Reached Around EGP 697.12 Bn By The End Of March 2024 Followed By Banque Du Caire, With a Coverage Ratio Of 142.58%During The Same Period.

Arab African International Bank Come In Third Place, With A Coverage Rate Of 136.84% At The End Of December 2023. The Bank's Deposits Reached EGP 394 Bn, While Its Asset Portfolio Amounted To EGP 539.2 Bn By December 2023 End.

In The Fourth Place Was Faisal Bank, With 138.03%. Its Total Deposit Portfolio Reached EGP 157.34 Bn, While Its Asset Portfolio Amounted To EGP217.18bn By March 2024 End.

ADIB Egypt Come In Fifth Place With A Coverage Rate Of 132.18%, The Bank's Deposits Amounted To EGP 143.44 Bn, While Its Asset Portfolio Reached Around EGP189.59 Bn By The End Of March 2024.

Saib Secured The Sixth Position With A Coverage Rate Of 131.62%, The Bank's Deposits Amounted To EGP 104.41Bn, While Its Asset Portfolio Reached Around EGP 137.43 Bn By The End Of March 2024, Next On The List Was credit Agricole With A Coverage Rate Of 130.80% During The Same Period.

EBank Secured The Eighth Position With A Coverage Rate Of 130.18%. Its Deposits Amounted To EGP 107.92 Bn, And Its Asset Portfolio Reached EGP 140.49 Bn By March-2024end.

Emirates NBD-Egypt Come In Ninth Position With A Coverage Rate Of 128.69%, The Bank's Deposits Amounted To EGP 106.73 Bn, While Its Asset Portfolio Reached Around EGP 137.35 Bn By The End Of March 2024.

Ahli United Bank Come In Tenth Place With A Coverage Rate Of 125.51%. The Bank's Deposits Amounted To EGP 101.39 Bn, While Its Asset Portfolio Reached Around EGP 127.25 Bn By The End Of March 2024, Followed By HD Bank With a Coverage Ratio Of 124.84% During The Same Period.

It's Important to Note That All The Mentioned Values And Coverage Rates Are Based On Separate Financial Statements Announced By Each Bank By The End Of March 2024.