Housing and Development Bank fastest growing listed bank in terms of corporates deposits in 9M

Housing and Development Bank topped First Bank list of fastest growing listed banks in terms of corporate corporates depositsduring the first 9 months of 2022

The bank’s total  corporates deposits posted EGP 59.6 billion at the end of September 2022, compared to EGP 40.5 billion at the end of 2021 with a growth rate of 47.4 %.

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

QNB Al Ahli came in second place with a growth rate of 42.3%, bringing total corporates depositsto 243.5 billion pounds at the end of September 2022, compared to 171.1 billion pounds at the end of December 2021.

CIB came in third place, with a growth rate 41.55% during 9M. Its total  corporates deposits recorded EGP 254.6 billion at the end of December 2021 while increasing to 179 billion at the end of September 2022.

In addition, Faisal Islamic Bank was in fourth place; as its corporates deposits portfolio jumped to EGP 3.9 billion pounds at the end of September 2022, compared to 2.9 billion at the end of 2021, with a growth rate of 33.71%.

Furthermore, Abu Dhabi Islamic Bank ranked fifth, after its corporates deposits portfolio rose to 38 billion pounds at the end of September 2022, compared to 28.5 billion pounds at the end of December 2021, with a growth rate of 33.40%.

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