Collective Decline in Alex Bank’s Market Shares in 2024

The market shares of Alex Bank experienced collective declines during Q1 of this year, as the increases that the Bank was able to achieve in its portfolio did not result in any increases in its market share or even maintaining it from the decline

This was revealed by a recent monitoring conducted by First Bank of Alex Bank market shares development during Q1 of 2024, where the Bank's market share in the asset market fell to 0.98% of total banking assets by the end of March, compared to 1.14% by the end of 2023.

Alex Bank's share in the deposit market also fell to 1.24% of total banking sector deposits by the end of March 2024, compared to 1.31% by the end of 2023.

This decline comes in parallel with the decline in the Bank’s share of the family sector deposits market to 1.50% of the total family sector deposits in the banking sector by the end of March 2024, compared to 1.51% by the end of 2023

In terms of the market share of Alex Bank in the loans market, it fell to 1.03% of total banking sector loans by the end of Q1-2024, compared to 1.21% by the end of 2023.

The decline in the Bank's share of the loan market was due to the decline in its share of the retail banking market to 2.97% of total retail loans of banking sector by the end of March 2024, compared to 3.12% by the end of 2023.

Alex Bank's market share in the stock market also fell to 0.60% of total financial investments (securities) in the banking sector by the end of March 2024, compared to 0.80% by the end of December 2023

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