SC Bank, saib, and ADIB Egypt, fastest growing listed banks on FirstBank composite growth index during H1-2024
First Bank
First Bank Composite Growth Index for Listed Banks Revealed Suez canal Bank Topping The List With A Composite Growth Rate Of 67.72% During the first half of The current Year.
This Was Driven by A Net Profit Growth Of 187.85%, With Total Asset, Customer deposit and loan Portfolios Growing At Rates Of 35.12%, 34.54%, And 13.56%, Respectively.
The Index, Based on The Egyptian Stock Exchange, Ranks Listed Banks Using A Composite Rate That Includes Sub-Indices Related To Net Profit Growth, Asset Growth, And The Growth Of Total Loan And Deposit Portfolios From January To June 2024.
The List Included 11 Banks Listed On The Egyptian Stock Exchange by End Of March 2024. All Banks Analyzed Achieved Positive Growth Rates During H1-2024
Returning To the List, The Second Position Was Secured By saib With A Composite Growth Rate Of 64.22%, Primarily Fueled By A Net Profit Growth Of 163.20%, Along With Growth In Total Assets, Customer Loans, And Deposits At Rates Of 31.18%, 32.82%, And 29.67%, Respectively.
Abu Dhabi Islamic Bank – Egypt “ADIB” Claimed The Third Position With A Composite Growth Rate Of 51.82%, Attributed To A Net Profit Growth Of 115.18%, And Growth In Total Customer financing, Deposit, And Asset Portfolios At Rates Of 33.54%, 28.53%, And 30.04%, Respectively.
Faisal Bank Secured The Fourth Position With A Composite Growth Rate Of 49.55%, Driven By A Net Profit Growth Of 142.49%, Along With Growth In Total Asset, Deposit, And Customer Loan Portfolios At Rates Of 21.93%, 26.57%, and 7.20%, Respectively.
The Fifth Position Went EGBANK With A Composite Growth Rate Of 49.25%, Primarily Influenced By A Net Profit Growth Of 87.84% During The first half of 2024, Accompanied By Growth In Total Asset, Customer Loan And Deposit, Portfolios At Rates Of 42%, 24.14%, And 43%, Respectively.
It’s Worth Noting That All Growth Rates Mentioned In The Analysis Are Based On Separate Financial Statements Announced By Each Bank By End Of June 2024.
Fastest listed banks on First Bank Composite Growth Index during H1-2024
| # | Bank Name | net profits | Total assets | deposits | Totala customer loans | Composite Growth Index % |
|---|---|---|---|---|---|---|
| 1 |
Suez Canal Bank |
187.85 % | 35.12 % | 34.54 % | 13.36 % | 67.72 % |
| 2 |
Suez Canal Bank |
163.2 % | 31.12 % | 29.67 % | 32.82 % | 64.22 % |
| 3 |
Abu Dhabi Islamic Bank-ADIB Egypt |
115.18 % | 30.04 % | 28.53 % | 33.54 % | 51.82 % |
| 4 |
Faisal Islamic Bank of Egypt |
142.49 % | 21.93 % | 26.57 % | 7.2 % | 49.55 % |
| 5 |
EGBANK |
87.84 % | 42 % | 43 % | 24.14 % | 49.25 % |
| 6 |
Export Development Bank of Egypt-EBank |
93.03 % | 35.32 % | 41.47 % | 14.84 % | 46.17 % |
| 7 |
Commercial International Bank-CIB |
95.73 % | 26.36 % | 27.01 % | 24.27 % | 43.34 % |
| 8 |
Housing and Development Bank-HDB |
71.08 % | 19.89 % | 20.17 % | 11.6 % | 30.69 % |
| 9 |
Qatar National Bank-QNB  |
62 % | 19.4 % | 20.06 % | 20.09 % | 30.39 % |
| 10 |
alBaraka Bank Egypt |
31 % | 24.04 % | 24.77 % | 13.9 % | 23.43 % |
| 11 |
Credit Agricole Egypt |
67.32 % | 7.76 % | 0.1 % | 14.85 % | 22.51 % |
