Top List of Banks in Egypt
The banking sector in Egypt includes many state-owned and private commercial banks that compete for customers at both the national and international levels. Egyptian banks control a significant portion of the region's banking industry. Of the top 25 financial institutions in the Middle East, 10 are located in Egypt. When the financial crisis of 2008 hit, the nationalization of banks in Egypt helped to restore stability within the sector. The number of banks in Egypt has actually been trending upward, and there are currently over 55 licensed national banks in the country.
Of these many banks in Egypt, there are some which are doing exceptionally well. Here are the lists of banks doing well in Egypt and worldwide.
Credit Agricole
Credit Agricole is an Egypt-based public shareholding company that provides financial and banking services. The Company operates in two sectors: retail banking, covering personal credit and savings, loans, mortgage, insurance, personal financing, and private banking. The wholesale banking sector includes leasing, factoring, finance guarantees, and others. It operates through approximately 83 branches located in major cities throughout the country. It owns an asset of EGP 54.7 billion (USD 3.48 billion)
HSBC Bank Egypt
HSBC Bank Egypt S.A.E has been operating in Egypt since 1982 and is widely known as The World's Local Bank. Made up of a team of around 1600 employees, HSBC offers a comprehensive range of financial products and services through its commercial banking, global banking and markets, retail banking and wealth management, treasury and trade finance, and private banking businesses to meet the needs of corporate, institutional, government and small business customers, as well as high net worth individuals. It manages 60 branches across Egypt with an asset of EGP 105.7 billion (USD 6.73 billion)
Bank of Alexandria
Bank of Alexandria is one of the major commercial banks in Egypt, with 211 branches and more than 1,800 ATMs, covering all 27 governorates. The bank provides banking services to retail customers, SMEs, and corporate clients, including cash handling services, letters of guarantees and letters of credit, safe deposit boxes, money transfers through Western Union, as well as loans and credit facilities.
The Bank of Alexandria belongs to the Intesa Sanpaolo Group, one of the first banking groups in the eurozone, which is composed of strong local and international banks. the Cairo-based bank has assets of worth EGP 103.9 billion (USD 6.61 billion as of 2021)
Qatar National Bank (QNB)
Qatar National Bank is one of the largest financial institutions in the Middle East and Africa. It has a variety of services in Egypt, the Middle East, and internationally. Its retail banking services include personal loans, credit cards, savings accounts, current accounts, and time deposits.
The bank's network comprises over 231 branches and outlets with over 450 ATMs all over the country, including subsidiaries, associates, and joint venture operations. Its assets stand at EGP 305.2 billion (USD 19.43 billion)
Commercial International Bank
Commercial International Bank is a subsidiary of the Commercial International Financial Holding Company S.A.E., providing banking services. The bank was established in 1975 and is headquartered in Cairo, Egypt. It has one of the highest financial strengths in Egypt, owing to its conservative business model, pre-crisis strategy, and long-term strategic vision.
It has retail and corporate banking, trade finance, treasury and money market operations, foreign exchange, project finance, funds management, and custody services. It has over 7100 staff across 182 branches in Egypt. Its total assets stand at EGP 447.7 billion (USD 28.52 billion)
Bank Audi
Bank Audi has been doing well in the Egyptian market and Middle East, particularly following the acquisition of Societe Generale's retail operations in the Lebanese market during January 2008. The bank offers an integrated range of innovative financial products and services through a network of 45 branches and 128 ATMs spread throughout all governorates of Egypt. Total assets for Bank Audi sums up to EGP 571.69 billion (USD 36.39 billion)
National Bank of Egypt
National Bank of Egypt (NBE), established in 1898, is one of Egypt's oldest and largest banks. Headquartered in Cairo, it has more than 413 branches and has more than 4823 ATMs across the country and overseas. NBE has introduced a range of services in retail banking, SME banking, corporate banking, international trade finance, investment banking, and money markets.
It ranks first among Egyptian banks regarding total assets, deposits, loans, branches, and workforce. The banks total assets add up to EGP 1.6 trillion (USD 100 billion)
Arab Banking Corporation
The Arab Banking Corporation (ABC) is a leading bank for Trade Finance, Cash Management, and Global Custody Services. ABC has 40 years of experience, having been established in 1982. Headquartered in Manama, Kingdom of Bahrain, with a presence in 18 countries across 5 continents, ABC offers its clients unrivaled expertise and geographically focused support capability.
It manages up to 24 branches with 0ver 94 ATMs across the country. The total assets for ABC are EGP 14.42 billion (USD 920 million)
Banque du Caire
Providing a vast array of banking services since 1952, Banque du Caire is a publicly-owned financial institution with more than 150 branches and assets. The bank's services include retail and corporate banking, trade finance, and treasury operations. It is among the most successful lending banks in Egypt and ranks as one of the leading banks in the Middle East. The bank is dedicated to offering a wide array of financial products to help meet its customers' needs. The bank's total assets are EGP 131.3 billion (USD 8.86 billion)
Housing and Development Bank
The Housing & Development Bank is one of Egypt's largest banking locomotives and contributes mainly to the national economy. The Housing & Development Bank was established as a cornerstone for realizing the aspirations of the Egyptian citizen in affording a decent home for his family.
The Bank's activities include:
Contributing to a housing development for citizens.
Securing the financing required for social housing.
Providing real estate financing for citizens.
Providing financial facilities to invest in industrial projects to meet the needs of housing materials.
Providing residential units Social manufacturing materials and construction tools systems.
its total assets are at EGP 63.3 billion (USD 4.03 billion)
FAQs
What was the first bank in Egypt?
Banque Misr: it was established in 1920. Its main objective was to direct national savings investments through social and economic development.
