EGBank, EBank, and HDB, fastest growing listed Banks in deposits after exchange rate neutralization

First Bank list of the fastest growing listed Banks in customer deposits after exchange rate neutralization during H1 of this year revealed that EGBank topped the list with a growth rate after exchange rate neutralization 27.04%, recording the size of its customer deposit portfolio equivalent to EGP 116.04 bn by the end of June 2024. 

This ranking shows the real growth of the listed Banks’ customer deposits portfolios, especially after the fall in the value of the Egyptian pound against foreign currencies in the light of the reform decisions of the Central Bank of Egypt, which resulted in a rise in the exchange rate of the dollar from EGP 30.93 by the end of December 2023 to EGP 48.08 by the end of June 2024.

First Bank list of the fastest growing listed Banks in customer deposits after exchange rate neutralization revealed the volume of deposits of 11 Banks operating in the Egyptian banking sector, for which financial statements were available by the end of June 2024.

The list revealed 10 Banks achieved positive growth rates in the volume of their customer deposits after exchange rate neutralization during H1 of this year, while 1 Banks experienced a decline in the volume of its portfolio during the same period of the current year.

Returning to the list, EBank ranked second after exchange rate neutralization by 22.39% in H1 of this year, after registering the volume of its customer deposit portfolio at EGP 122.98 bn by the end of June 2024.

HDB was third, after the volume of its customer deposits rose at a rate of growth after exchange rate neutralization reached 18.50% in H1 of this year, registering EGB 121.70 bn by the end of June 2024.  

As for the fourth position, ADIB received a growth rate after exchange rate neutralization of 15.98% during H1 of this year, after its customer deposits portfolio amounted to EGP 163.40 bn by the end of June 2024. 

SC Bank held fifth place after exchange rate neutralization by 11.90% during H1 of this year, with its customer deposits portfolio recorded EGP 99.09 bn by the end of June 2024.  

It should be noted that all the above values and growth rates according to the separate financial statements announced to each bank by the end of June 2024, and to view First Bank list of the fastest growing listed banks in customer deposits before exchange rate neutralization, click here.