NBE, and FABMISR, Top banks in Asset Coverage Ratio for Deposits by June- 2024end

First Bank Has Released A List Of The Best Banks In Terms Of Asset Coverage Ratio For Deposits. National Bank of Egypt-NBE Topped the List, With A Coverage Rate Of 158.14% At the End Of June 2024. the Bank's Deposits Reached EGP 4.3 tn, While Its Asset Portfolio Amounted to EGP 6.8 tn By June 2024- End

Asset Coverage Ratio For Deposits Reflects Banks' Ability To Cover Their Customers' Deposits Using Their Asset Portfolios. The Ranking Is Based On The Ratio (Assets/Deposits) × 100, And Higher Values Indicate A Higher Level Of Safety Provided By The Bank To Its Depositors Across Different Segments.

The List Included 24 Banks Operating In The Egyptian Banking Sector, All Of Which Showed Strong Coverage Rates For Their Customers' Deposits By The End Of June 2024.

FAB Egypt Secured The Second Position With A Coverage Rate Of 154.25%. The Bank's Deposits Amounted To EGP 278.7 Bn, While Its Asset Portfolio Reached Around EGP 429.9 Bn By The End Of June 2024 Followed By Banque Du Caire, With a Coverage Ratio Of 142.66%During The Same Period.

SC Bank Come In Fourth Place, With A Coverage Rate Of 140.38% At The End Of June 2024. The Bank's Deposits Reached EGP 99.08Bn, While Its Asset Portfolio Amounted To EGP 139.09 Bn By June -2024End.

In The Fifth Place Was Arab African International Bank-AAIB, With 138.28%. Its Total Deposit Portfolio Reached EGP 549.899 Bn, While Its Asset Portfolio Amounted to EGP760.41bn By June 2024 End.

Credit Agricole Egypt Come In Sixth Place With A Coverage Rate Of 135.56%, The Bank's Deposits Amounted To EGP 84.25 Bn, While Its Asset Portfolio Reached Around EGP114.217 Bn By The End Of June 2024.

Faisal Bank Secured The Seventh Position With A Coverage Rate Of 130.67%, The Bank's Deposits Amounted To EGP 165.123Bn, While Its Asset Portfolio Reached Around EGP 215.773 Bn By The End Of June 2024.

Emirates NBD-Egypt Come In Eighth Position With A Coverage Rate Of 129.36%, The Bank's Deposits Amounted To EGP 110.74 Bn, While Its Asset Portfolio Reached Around EGP 143.261 Bn By The End Of June 2024.

EBank Secured The Ninth Position With A Coverage Rate Of 128.47%. Its Deposits Amounted To EGP 122.982 Bn, And Its Asset Portfolio Reached EGP 157.993 Bn By June-2024end.

It's Important to Note That All The Mentioned Values And Coverage Rates Are Based On Separate Financial Statements Announced By Each Bank By The End Of June 2024.