SC Bank, FABMisr, and saib, fastest-growing banks on First Bank Composite Growth Index during H1-2024
First Bank
First bank composite index revealed that Suez Canal Bank led with a 67.72% growth rate, driven by a 187.85% increase in net profits.
Additionally, their asset portfolios, deposits, and total customer loans grew by 35.12%, 34.54%, and 13.56% respectively during the first half of 2023.
The list included 22 banks operating in the Egyptian banking sector, with their financial data available for analysis. All the analyzed banks achieved positive growth rates from January to June 2024.
First Abu Dhabi Bank - Egypt secured the second position on the index with a composite growth rate of 66% during the first six months of the current year.
This growth was primarily fueled by a 139% increase in net profits, as well as growth in asset portfolios, deposits, and total customer loans at rates of 46%, 40%, and 39% respectively during the same period.
saib claimed the third position after achieving a composite growth rate of 64.22% during the first half of 2024.
This was attributed to a 163.20% increase in the bank's net profits, along with growth rates of 32.82%, 31.18%, and 29.67% in its asset portfolios, deposits, and total customer loans respectively during the same period.
ABK - Egypt secured the fourth position with a composite growth rate of 59.69%, driven by a 154.03% increase in net profits. Additionally, its asset portfolios, deposits, and total customer loans grew at rates of 30.48%, 29.29%, and 24.97% respectively during the same period.
AAIB came in fifth place with a composite growth rate of 58.45% during the first half of the current year. Net profits played a significant role in this growth, increasing by 128.14%, along with growth rates of 41.13%, 39.66%, and 24.86% in asset portfolios, deposits, and total customer loans respectively.
ADCB secured the sixth position with a composite growth rate of 52.81% during the first half of 2023. This growth was primarily driven by a 161.80% increase in net profits, along with growth rates of 17.91%, 17.35%, and 14.18% in total asset portfolios, deposits, and customer loans respectively.
ADIB claimed the seventh position with a composite growth rate of 51.82%, achieving growth rates of 115.18% in net profits, and 33.54%, 30.04%, and 28.53% in asset portfolios, deposits, and total customer loans respectively during the first half of 2024.
Faisal Islamic Bank of Egypt secured the eighth position with a composite growth rate of 49.55% during the first half of the current year. This growth was supported by a 142.49% increase in net profits, as well as growth rates of 26.57%, 21.93%, and 7.20% in total asset portfolios, deposits, and customer loans respectively.
EGBANK claimed the ninth position with a composite growth rate of 49.25% in its key indicators. This growth was supported by a 87.84% increase in net profits, as well as growth rates of 43%, 42%, and 24.14% in total asset portfolios, deposits, and customer loans respectively.
It's worth noting that all the mentioned growth rates and percentages are based on separate financial statements announced by each bank at the end of June 2024.
Fastest growing banks on First Bank Composite Growth Index during H1-2024
| # | Bank Name | Net profits | Assets | customer deposits | Total customer loans | Composite Growth Index % |
|---|---|---|---|---|---|---|
| 1 |
Suez Canal Bank |
187.85 % | 35.12 % | 35.54 % | 13.36 % | 67.72 % |
| 2 |
First Abu Dhabi Bank Egypt-FAB |
139 % | 46 % | 39 % | 40 % | 66 % |
| 3 |
SAIB BANK |
163.2 % | 31.18 % | 29.67 % | 32.82 % | 64.22 % |
| 4 |
Al Ahli Bank of Kuwait Egypt -ABK Egypt |
154.03 % | 30.48 % | 24.97 % | 29.29 % | 59.69 % |
| 5 |
arab african international bank |
128.14 % | 41.13 % | 39.66 % | 24.86 % | 58.45 % |
| 6 |
Abu Dhabi Commercial Bank Egypt- ADCB |
161.8 % | 17.35 % | 14.18 % | 17.91 % | 52.81 % |
| 7 |
Abu Dhabi Islamic Bank-ADIB Egypt |
115.18 % | 30.4 % | 28.53 % | 33.5 % | 51.82 % |
| 8 |
Faisal Islamic Bank of Egypt |
142.49 % | 21.9 % | 26.5 % | 7.2 % | 49.55 % |
| 9 |
EGBANK |
87 % | 42 % | 43 % | 24.14 % | 49.25 % |
| 10 |
Export Development Bank of Egypt-EBank |
93 % | 35.3 % | 41.4 % | 14.84 % | 46.16 % |
| 11 |
Commercial International Bank-CIB |
95.7 % | 26.3 % | 27 % | 24.27 % | 43 % |
| 12 |
BANK NXT |
100.2 % | 20.2 % | 26 % | 15.71 % | 40.59 % |
| 13 |
Bank of Alexandria-Alex Bank |
115 % | 12.7 % | 11.4 % | 12.39 % | 37.89 % |
| 14 |
Banque Du Caire-BDC |
120 % | 11.9 % | 4.3 % | 10.8 % | 36.8 % |
| 15 |
Attijariwafa Bank Egypt |
86.71 % | 16.83 % | 16.44 % | 19.35 % | 34.8 % |
| 16 |
Al Ahli united bank Egypt |
72.86 % | 21.65 % | 22.49 % | 19.9 % | 34.23 % |
| 17 |
Housing and Development Bank-HDB |
71.08 % | 19.89 % | 20.17 % | 11.6 % | 30.69 % |
| 18 |
Qatar National Bank-QNB  |
62 % | 19.4 % | 20.06 % | 20.9 % | 30.39 % |
| 19 |
alBaraka Bank Egypt |
31 % | 24.04 % | 24.77 % | 13.9 % | 23.43 % |
| 20 |
Arab Banking Corporation- ABC |
52.49 % | 12.03 % | 12.2 % | 14.27 % | 22.75 % |
| 21 |
Credit Agricole Egypt |
67.32 % | 7.76 % | 0.1 % | 14.85 % | 22.51 % |
| 22 |
Emirates NBD Egypt |
32.9 % | 11.82 % | 7.88 % | 18.96 % | 17.9 % |
