How the largest 10 banks' positions in the deposit market changed in a year and a half?

In view of the dynamic transformations in the Egyptian banking sector, the top 10 banks experienced marked changes in their deposit market shares from the end of December 2022 to the end of June 2024.

A new monitoring by First Bank of the top 10 banks operating in the Egyptian market revealed surprises in the ranking of banks, some of which were able to significantly enhance their standing, while others fell slightly, reflecting economic challenges and growing competition in the market, making pursuing this sector vital to understanding the dynamism of the Egyptian economy and the future trends of the major banks.

The monitoring showed that the National Bank of Egypt still has the top of the largest banks operating in the Egyptian banking sector in the deposit market despite a slight decline in market share, reaching 35.86% by the end of June 2024, compared to 37.62% by the end of 2022

Banque Misr also retained the second position with a market share of 18.5% of total banking sector deposits, compared to 20.17% at the end of 2022

Commercial International Bank maintained its third position after successfully raising its share to 7.15% of total banking sector deposits by the end of June 2024, compared to 6.19% by the end of 2022.

In the fourth place, QNB continued to strengthen its position, jumping its market share to 5.31% of total banking sector deposits by the end of June 2024, compared to 4.75% at the end of 2022

The AAIB returned to fifth place, almost doubling its market share, to 4.59% of total banking sector deposits by the end of June 2024, compared to 2.55% at the end of 2022.

While Banque du Caire fell to sixth place with a market share of 2.63% of total banking sector deposits by the end of June 2024, compared to 2.92% at the end of 2022

First Abu Dhabi Bank rose to seventh place with a market share of 2.32% of total banking sector deposits at the end of June 2024, up from 1.61% at the end of 2022, advancing two positions in just 18 months.

HSBC Bank Egypt dropped to eighth place with a market share of 1.82% of total banking sector deposits by the end of June 2024, compared to 1.77% by the end of 2022.

The Agricultural Bank of Egypt ranked ninth with a market share of 1.54% of total banking sector deposits by the end of June 2024, compared to 1.65% at the end of 2022

Faisal Islamic Bank maintained 10th place, although its market share fell to 1.38% of total banking sector deposits by the end of June 2024, compared to 1.44% by the end of 2022

It is worth noting that the gap between Faisal Islamic Bank and Abu Dhabi Islamic Bank, immediately followed by 11th place, decreased to 0.02% by the end of June 2024, due to the reduction of the gap between the two banks in the customer deposit portfolio to EGP 1.7 bn by the end, which is the lowest level of the gap ever, indicating the prospect that Faisal Islamic Bank may leave the largest 10 Banks list soon.