Top 7 Largest Banks in Egypt
The banking sector in Egypt plays a pivotal role in facilitating economic growth, mobilizing savings, providing access to capital, supporting financial ... read more...transactions, and contributing to financial stability. Its importance lies in the facilitation of investment, entrepreneurship, and inclusive economic development in the country. Here are some of the largest banks in Egypt.
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The National Bank of Egypt (NBE) is one of the oldest and largest banks in Egypt, with a rich history that dates back to 1898. As a state-owned bank, it plays a significant role in the country's financial sector and serves as a key driver of economic development.
The National Bank of Egypt has a wide-ranging presence both domestically and internationally. With a vast network of 615 branches, the bank ensures accessibility and convenience for its customers throughout Egypt. Its dedicated team of over 22,000 employees contributes to the bank's success by delivering exceptional service and expertise across its diverse range of banking and financial services.
The NBE's influence extends beyond Egypt, with a presence in several other countries, including the UK, Sudan, and China. Moreover, the bank has established representative offices in South Africa and Dubai, further strengthening its global reach and facilitating international trade and transactions.
The National Bank of Egypt holds a prominent position in Africa's banking landscape, securing the second spot in Africa's Top 100 Banks. With a capital of USD 7.2 billion, the bank demonstrates its robust financial strength and stability. Notably, the National Bank of Egypt has also established itself as the most valuable Egyptian brand, as recognized by Brand Finance, boasting an impressive brand value of USD 477.7 million.
Furthermore, it stands out as the strongest Egyptian brand, earning an upgrade to AAA- rating. With total assets amounting to EGP 3.6 billion, the National Bank of Egypt showcases its extensive reach and influence in the financial industry. These achievements solidify the bank's reputation as a leading financial institution in the region, known for its strong financial standing, brand recognition, and commitment to excellence.
Founded: 1898
Headquarters: 1187 Corniche El Nil St. Cairo, Egypt
Website: https://www.nbe.com.eg/
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Banque Misr, established in 1920 as a commercial bank in Egypt, has a rich history and a strong commitment to responsible banking practices. It was the first wholly Egyptian-owned bank, founded with the aim of supporting economic development and promoting national interests. Initially, the bank focused on providing financing to the agricultural and industrial sectors, playing a crucial role in Egypt's economic growth.
In 2019, the bank became one of the earliest in Egypt to join the UN Principles of Responsible Banking, reflecting its dedication to sustainable finance. Banque Misr has taken significant steps to drive change within the industry, conducting in-depth assessments of sectors and sub-sectors and mapping its entire portfolio. By doing so, the bank is able to adjust its credit policies and procedures to align with sustainability goals.
Operating through a vast network of 798 branches and units in Egypt, along with branches in the United Arab Emirates and France, Banque Misr offers a wide range of banking services, including corporate, retail, investment, and Islamic banking. Its global presence is bolstered by representative offices in Russia, China, South Korea, Italy, Côte d'Ivoire, and Kenya.
With a dedicated workforce of 21,386 employees, Banque Misr prioritizes the needs of its customers while upholding its mission of responsible banking. Banque Misr continues to play a pivotal role in Egypt's banking sector, embracing sustainability and innovation as it serves its customers and contributes to the country's economic growth. In 2022, the bank reported total assets of EGP 1,917,114.446 billion (roughly USD 120,801,810 billion).
Founded: 1920
Headquarters: 151, Mohamed Farid Street Down Town, Cairo
Website: https://www.banquemisr.com/ -
Commercial International Bank (CIB) is a leading Egyptian bank that provides a wide range of banking and financial services. Established in 1975, CIB has grown to become one of the largest and most reputable banks in Egypt. It offers various services including corporate banking, retail banking, treasury, investment banking, and brokerage services.
With total assets amounting to EGP 635.8 million, CIB boasts a robust and substantial financial base. The bank's average market capitalization of EGP 90.76 billion further highlights its strong position in the market. In terms of various financial indicators, CIB stands out among all Egyptian private sector banks. It has secured the top rank in revenues, net worth, total assets, and deposits in 2022, underscoring its dominance and competitive advantage in the industry.
CIB's success can be attributed to its customer-focused approach, innovative banking solutions, and ability to adapt to evolving market dynamics. As a trusted financial partner, CIB serves a diverse customer base, including individuals, businesses, and institutions, contributing to the economic growth and development of Egypt.
Today, CIB is actively interested in creating an African classification system for environmentally friendly initiatives. The bank focuses on proving to clients that environmental loans result in significant cost savings and boost clients' bottom lines. It also offers seven sustainable finance products, including ones for solar and clean energy, and is aiming for 14 additional programs, including ones for the blue economy and green transportation.
Founded: 1975
Headquarters: 21/23 Charles de Gaulle, P.O. Box 2430, Cairo, Giza, Egypt
Website: https://www.cibeg.com/ -
QNB AlAhli, formerly known as the National Bank of Egypt-Al Ahli, is one of Egypt's leading banks of QNB Group with a strong presence in the country's financial sector. With a rich history dating back to 1856, QNB AlAhli has established itself as a trusted and reliable institution.
The bank offers a comprehensive range of banking and financial services, including retail banking, corporate banking, investment banking, and treasury services. QNB AlAhli serves a diverse customer base, catering to the financial needs of individuals, businesses, and institutions across Egypt.
QNB AlAhli Bank, a prominent financial institution in Egypt, has established a widespread presence with its network of 232 branches across the country. With over 1,400,000 customers, the bank has earned a reputation for its extensive reach and commitment to serving a diverse clientele.
In a remarkable achievement, QNB AlAhli Bank achieved its highest-ever net profit of EGP 10.4 billion in 2022, marking a substantial 36% increase compared to the previous year. QNB AlAhli Bank's total assets reached EGP 476.79 million in 2022, making it the fourth-largest bank in Egypt.
The strategy of QNB Group centers on its core competency as a wholesale bank, offering the best customer service and cutting-edge products to address the changing financial needs of its clients. In the banking industry, it is a pioneer for utilizing the instant settlement technique. The bank expanded and created new services for instant settlements through the Instant Payment Network (IPN).
Founded: 1978
Headquarters: Cairo, Egypt
Website: https://www.qnbalahli.com/
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Banque du Caire is one of Egypt's leading banks, with a long history and a strong presence in the country's financial sector. Established in 1952, the bank has played a vital role in supporting Egypt's economic growth and development.
Banque du Caire offers a comprehensive range of banking and financial services, including corporate banking, retail banking, treasury, and investment services. The bank serves a diverse customer base, including individuals, businesses, and government entities, providing them with tailored financial solutions to meet their needs. Banque du Caire is known for its customer-centric approach, innovative products, and commitment to excellence. With a network of branches and a wide range of digital banking channels, the bank ensures convenient access to its services across Egypt.
Banque du Caire demonstrated strong financial performance with its impressive results by the end of the third quarter of 2022 with net profits of EGP 2.90 billion during this period, showcasing a notable increase of 7% compared to EGP 2.70 billion in the same quarter of 2021. This growth highlights Banque du Caire's ability to effectively manage its operations and deliver consistent profitability.
Furthermore, the bank witnessed a significant surge in operating revenues, which reached EGP 11.30 billion, representing a remarkable increase of 19%. The bank's total assets were EGP 255.4 million. This substantial revenue growth reflects Banque du Caire's successful implementation of its business strategies and ability to generate sustainable income. With its strong financial performance and commitment to excellence, Banque du Caire continues to be a trusted financial partner, providing comprehensive banking services and contributing to Egypt's economic development.
Founded: 1952
Headquarters: Nasr City, Cairo, Egypt
Website: https://www.bdc.com.eg/
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Arab African International Bank (AAIB) is one of the largest banks in Egypt headquartered in Cairo. The bank was founded as a joint venture between the Central Bank of Egypt, the Kuwait Investment Authority, and several prominent Egyptian and Arab businessmen. AAIB was created with the aim of fostering economic growth, promoting international trade, and supporting investment activities in Egypt and the region.
According to its annual report for 2022, the bank's total assets were EGP 239.13 million. AAIB also achieved notable financial results, demonstrating its strong performance and growth. The bank reported a net profit of USD 136.7 million, representing a significant increase of 70.8% compared to the previous year. This impressive growth reflects AAIB's effective business strategies and successful implementation of its financial objectives.
Additionally, total customer deposits experienced a healthy growth of 4%, reaching $10.2 billion, which equates to an increase of $390 million. Today, the strategy of AAIB is centered on the future and creating ground-breaking technologies to meet the constantly evolving needs of clients.
Throughout its history, AAIB has maintained a strong commitment to innovation, customer satisfaction, and ethical business practices. With its long-standing presence and expertise, AAIB continues to contribute to Egypt's economic development and remains a trusted financial institution in the region.
Founded: 1964
Headquarters: Cairo, Egypt
Website: https://www.aaib.com/
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The Housing and Development Bank (HDB) is a leading financial institution in Egypt that specializes in providing various banking services and financing solutions for the housing and real estate sectors. Established in 1979, HDB is one of the largest mortgage finance banks in Egypt and plays a significant role in supporting affordable housing initiatives and promoting sustainable urban development.
HDB offers a comprehensive range of banking products and services, including mortgage loans, construction financing, real estate development loans, and various retail and commercial banking services. The bank aims to facilitate access to housing finance, promote homeownership, and contribute to the growth and development of Egypt's housing market.
With a network of 98 branches spread across the country, HDB ensures convenient accessibility to its comprehensive range of banking services for its customers. As of September 31, 2022, the bank employed a dedicated workforce of 2,830 individuals, reflecting its commitment to providing employment opportunities and contributing to the local economy.
HDB is delighted to announce its impressive financial results for the year 2022. The bank achieved outstanding performance, with revenues totaling EGP 6.281 billion, showcasing its strong growth and resilience in a challenging economic environment. HDB's net standalone profits witnessed remarkable growth, reaching EGP 2.257 billion compared to EGP 1.83 billion in the previous year. With total assets of EGP 106,399,543,827 million, HDB is one of the largest banks in Egypt in terms of assets.
Founded: 1979
Headquarters: Mohandeseen, Giza, Egypt
Website: https://www.hdb-egy.com/