SC Bank, saib, and, ADIB fastest-growing listed banks on First Bank Composite Growth Index during 9M-2024
First Bank
First bank composite index revealed that Suez Canal Bank led with a 67.71% growth rate, driven by a 130.07 % increase in net profits.
Additionally, their asset portfolios, deposits, and total customer loans grew by 49.67%, 45.76%, and 43.32% respectively during the first 9M of 2024.
The list included 11 listed 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 September 2024.
saib secured the second position on the index with a composite growth rate of 58.60% during the first 9 months of the current year.
This growth was primarily fueled by a 117.91% increase in net profits, as well as growth in asset portfolios, deposits, and total customer loans at rates of 41.69%, 37.99%, and 36.80% respectively during the same period.
ADIB claimed the third position after achieving a composite growth rate of 56.79% during the first 9M of 2024.
This was attributed to a 94.43% increase in the bank's net profits, along with growth rates of 47.94%, 44.91%, and 39.89% in its asset portfolios, deposits, and total customer loans respectively during the same period.
Faisal Islamic Bank of Egypt secured the fourth position with a composite growth rate of 53.57%, driven by a 139.54% increase in net profits. Additionally, its asset portfolios, deposits, and total customer loans grew at rates of 29.56%, 27.58%, and 17.59% respectively during the same period.
EGBANK came in fifth place with a composite growth rate of 52.40% during the first 9M of the current year. Net profits played a significant role in this growth, increasing by 84.50%, along with growth rates of 48.32%, 43.88%, and 32.90% in asset portfolios, deposits, and total 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 September 2024.
Fastest-growing listed banks on First Bank Composite Growth Index during 9M-2024
| # | Bank name | Net profits growth rate during the first 9M-2024 | Assets growth rate during the first 9M-2024 | Deposits growth rate during the first 9M-2024 | Total loans growth rate during the first 9M-2024 | Composite Growth Index |
|---|---|---|---|---|---|---|
| 1 |
Suez Canal Bank |
130.07 % | 43.32 % | 45.76 % | 49.67 % | 67.21 % |
| 2 |
SAIB BANK |
117.91 % | 37.99 % | 36.8 % | 41.69 % | 58.6 % |
| 3 |
Abu Dhabi Islamic Bank-ADIB Egypt |
94.43 % | 47.94 % | 44.91 % | 39.89 % | 56.79 % |
| 4 |
Faisal Islamic Bank of Egypt |
139.54 % | 27.58 % | 29.56 % | 17.59 % | 53.57 % |
| 5 |
EGBANK |
84.5 % | 48.32 % | 43.88 % | 32.9 % | 52.4 % |
| 6 |
Export Development Bank of Egypt-EBank |
80.09 % | 46.12 % | 45.92 % | 23.28 % | 48.85 % |
| 7 |
Commercial International Bank-CIB |
95.83 % | 33.89 % | 32.78 % | 31.95 % | 48.61 % |
| 8 |
Housing and Development Bank-HDB |
87.15 % | 24.94 % | 24.66 % | 18.09 % | 38.71 % |
| 9 |
Qatar National Bank-QNB  |
62.63 % | 26.52 % | 28.1 % | 24.66 % | 35.45 % |
| 10 |
alBaraka Bank Egypt |
38.46 % | 25.14 % | 25.45 % | 24.66 % | 28.35 % |
| 11 |
Credit Agricole Egypt |
59.23 % | 8.79 % | -0.21 % | 21.48 % | 22.32 % |
