E-bank, Saib, Suez Canal Bank fastest growing listed banks in terms of profits 9M

The Egyptian Export Development Bank (E-Bank) topped First Bank list of fastest growing listed banks in terms of profits during the first 9 months of 2022

The bank was able to achieve a record jump in its net profits by about 168.85% generating EGP944 million during the first 9 months. 9 months of 2022, compared to EGP351 million during the same period of 2021.

First bank conducts a list of 11 banks listed on the EGX:

First bank rating list, which included 11 banks listed on the Egyptian Stock Exchange, revealed that listed banks recorded positive growth rates in terms of profits during the period from January to September 2022.

Growth rates ranged between 168% and 21%, confirming that all listed banks have improved their performancedespite the challenges that the global economy is going through and that have cast a shadow over the financial and economic conditions in Egypt.

Saib Bank ranked second as its net profits jumped by 133.12%, rising from EGP222 million during the first 9 months of 2021 to record EGP 518 million during the same period of 2022.

Suez Canal Bank came in third place with a growth of 94.91%. Its net profits posted EGP 735m during 9M, compared to EGP 377m during the same comparable period of 2021.

ADIB was in fourth place follwed by credit Agricole

In addition, Abu Dhabi Islamic Bank - Egypt came fourth, after its net profits jumped by 53.89% to reach 1.542 billion pounds during 9M\2022, compared to EGP 1.002 billion during the same period in 2021. It was followed by Credit Agricole Bank at a growth rate of 37.45% during the same period.