HDB, Suez Canal Bank fastest growing listed banks in terms of retail deposits in 9M

Housing and Development Bank topped First Bank list of fastest growing listed banks in terms of retail deposits during the first 9 months of 2022

The bank’s total retail deposits posted EGP 27.6 billion at the end of September 2022, compared to EGP 22.4 billion at the end of 2021 with a growth rate of 23.05 %.

First bank rating list, which included 11 banks listed on the Egyptian Stock Exchange, revealed that eight of the listed banks recorded positive growth rates in terms of retail deposits portfolio during the period from January to September 2022, while three banks seen a decline in retail deposits in 9M-2022.

Suez Canal Bank came in second place with a growth rate of 9.6%, bringing total retail deposits to 12.3 billion pounds at the end of September 2022, compared to 11.2 billion pounds at the end of December 2021.

Egypt Export Development Bank came in third place, with a growth rate 39.91 % during 9M. Its total personal loans recorded EGP 3.20 billion at the end of December 2021 while increasing to 4.47 billion at the end of September 2022.

In addition, CIB was in fourth place; as its retail deposits portfolio jumped to EGP 243 billion pounds at the end of September 2022, compared to 226 billion at the end of 2021, with a growth rate of 7.40%.

Furthermore, QNB Al Ahli ranked fifth, after its retail deposits portfolio rose to 133.4 billion pounds at the end of September 2022, compared to 125.1 billion pounds at the end of December 2021, with a growth rate of 6.6 %.

The figures included in the list are according to the independent financial results announced for each bank by the end of September 2022.