AAIB, and ABK-Egypt, fastest-growing banks on First Bank composite growth Index during Q1-2024
First Bank
First Bank Composite Growth Index during the first quarter of the current Year Revealed that arab African International Bank- AAIB Topped the List with A Composite Growth Rate Of 64.55%, Driven By Net Profits That Jumped By 184%, While Total Portfolios Of Assets, Deposits And Loans, Increased By A Growth Rates Of 29.38%, 23.14% And 21.70%, Respectively, During Q1- 2024.
The List Included 22 Banks Operating in The Egyptian Banking Sector, With Their Financial Data Available for Analysis. All The Analyzed Banks Achieved Positive Growth Rates from January to March 2024.
ABK-Egypt Secured the Second Position With A Composite Growth Rate Of 60.11%, Net Profits Played A Significant Role In This Growth, Increasing By 189.13% As Well As Growth Rates Of 17.98%, 17.92%, And 15.41% In Total asset, Total Customer Loans, And deposit portfolios Respectively During the first quarter of 2024.
Faisal Bank Secured The Third Position On The Index With A Composite Growth Rate Of 58.88%, Driven By Net Profits That Jumped By 179.79%, While Total Portfolios Of Assets, Deposits And Loans, Increased By A Growth Rates Of 22.73%, 20.61% And 12.38%, Respectively, In Q1-2024.
Suez Canal Bank Claimed The Fourth Position With A Composite Growth Rate Of 55.56%, Net Profits Played A Significant Role In This Growth, Increasing By 143.60% While Total Portfolios Of Assets, Deposits And Loans, Increased By A Growth Rates Of 32.13%, 27.13% And 19.32%, Respectively During the first quarter of 2024.
aiBank Secured The Fifth Position On The Index With A Composite Growth Rate Of 51.60%, This Growth Was Primarily Fueled By A 171.56% Increase In Net Profits, As Well As Growth In Asset Portfolios, Deposits, And Total Customer Loans At Rates Of 10.16%, 14.26%, And 10.43% Respectively During Q1-2024.
saib Claimed the Sixth Position With A Composite Growth Rate Of 48.68%, Attributed To A Net Profit Growth Of 121.18%, And Growth In Asset Portfolio, Deposits, And Total Customer Loans, With Growth Rates Of 27.39%, 22.34%, And 23.80%, Respectively.
ADCB- Egypt Secured the Seventh Position With A Composite Growth Rate Of 48.10%, Driven By A 160.57% Increase In Net Profits. Additionally, Its Asset Portfolios, Deposits, And Total Customer Loans Grew At Rates Of 9.90%, 7.88%, And 14.05% Respectively During the first quarter of 2024.
Abu Dhabi Islamic Bank – Egypt “ADIB” Secured The Eight Position With A Composite Growth Rate Of 43.75% During The first quarter of this Year. This Growth Was Supported By A 117.33% Increase In Net Profits, As Well As Growth Rates Of 18.02%, 12.83%, And 26.83% In Total Asset Portfolios, Deposits, And Customer Loans Respectively.
Egyptian Export Development Bank “EBank” Secured Ninth Position With A Composite Growth Rate Of 41.50%, Driven By A Net Profit Growth Of 105.51%, As Well As Growth In Total Asset, Deposit, And Customer Loan Portfolios At Rates Of 20.33%, 24.14%, And 16.03%, Respectively During 2023, Followed By Banque Du Caire and CIB With A Composite Growth Rates Of 38.32%, 37.12% during the same period.
It's Worth Noting That All The Mentioned Growth Rates And Percentages Are Based On Separate Financial Statements Announced By Each Bank At The End Of March 2024.
Fastest growing banks on First Bank Composite Growth Index during Q1-2024
| # | Bank Name | Asset growth | deposits % | loans % | Net profits % | Composite Growth Index % |
|---|---|---|---|---|---|---|
| 1 |
arab african international bank |
29.38 % | 23.14 % | 21.7 % | 183.99 % | 64.55 % |
| 2 |
Al Ahli Bank of Kuwait Egypt -ABK Egypt |
17.98 % | 15.41 % | 17.92 % | 189.13 % | 60.11 % |
| 3 |
Faisal Islamic Bank of Egypt |
22.73 % | 20.61 % | 12.38 % | 179.79 % | 58.88 % |
| 4 |
Suez Canal Bank |
32.13 % | 27.13 % | 19.32 % | 143.6 % | 55.56 % |
| 5 |
Arab Investment Bank- aiBANK |
10.16 % | 14.26 % | 10.43 % | 171.56 % | 51.6 |
| 6 |
SAIB BANK |
27.39 % | 22.34 % | 23.8 % | 121.18 % | 48.68 % |
| 7 |
Abu Dhabi Commercial Bank Egypt- ADCB |
9.9 % | 7.88 % | 14.05 % | 160.57 % | 48.1 % |
| 8 |
Abu Dhabi Islamic Bank-ADIB Egypt |
18.02 % | 12.83 % | 26.81 % | 117.33 % | 43.75 % |
| 9 |
Export Development Bank of Egypt-EBank |
20.33 % | 24.14 % | 16.03 % | 105.51 % | 41.5 % |
| 10 |
Banque Du Caire-BDC |
11.08 % | 3.58 % | 9.17 % | 129.45 % | 38.32 % |
| 11 |
Commercial International Bank-CIB |
16.08 % | 17.34 % | 18 % | 96.35 % | 37.12 % |
| 12 |
NBK Egypt |
19.01 % | 19.63 % | 13.25 % | 96.16 % | 37.04 % |
| 13 |
EGBANK |
22.97 % | 20.95 % | 21.66 % | 69.93 % | 33.88 % |
| 14 |
Attijariwafa Bank Egypt |
10.22 % | 9.82 % | 10.64 % | 86.47 % | 29.29 % |
| 15 |
Al Ahli united bank Egypt |
12.04 % | 12.58 % | 13.43 % | 77.55 % | 28.99 % |
| 16 |
Qatar National Bank-QNB  |
16.38 % | 17.33 % | 18.47 % | 52.87 % | 26.26 % |
| 17 |
Arab Banking Corporation- ABC |
10.14 % | 10.47 % | 8.79 % | 72.51 % | 25.48 % |
| 18 |
Bank of Alexandria-Alex Bank |
8.26 % | 7.5 % | 7.78 % | 78.18 % | 25.43 % |
| 19 |
Housing and Development Bank-HDB |
6.27 % | 5.15 % | 6.62 % | 83.09 % | 25.28 % |
| 20 |
Credit Agricole Egypt |
4.11 % | 0.23 % | 6.86 % | 87.64 % | 24.71 % |
| 21 |
alBaraka Bank Egypt |
12.52 % | 10.67 % | 12.31 % | 24.99 % | 15.12 % |
| 22 |
Emirates NBD Egypt |
7.2 % | 3.97 % | 8.35 % | 13.34 % | 8.22 % |
