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8 Top-Rated Banks In Egypt, One Of Africa’s Richest, Most Populous Countries

8 Top-Rated Banks In Egypt, One Of Africa’s Richest, Most Populous Countries

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One of the three most populous African countries, Egypt is also one of the richest. Some economists forecast the northern African country could bypass Nigeria to become the continent’s No. 1 economy.

With a population of  92.7 million, 40 percent of Egyptians lives in poverty, with many surviving on less than $2 a day.

Egypt’s economic climate has attracted its share of criticism. While it has a large number of poor people, it also has a small number of enormously rich ones who help keep Egyptian banks busy.

Check out 8 top-rated banks in Egypt.

Source: Marketplace.org, Worldometers,

Ecgsa.com/Credit agricole egypt head office
Ecgsa.com/Credit agricole egypt head office

Credit Agricole Egypt

Credit Agricole Egypt (CAE) is a subsidiary of the French Credit Agricole Group, one of the largest banks in the world. CAE ranked first in the secondary market, with a 30.43 percent market share. Since its inception in 1994, the bank has some mutual funds that saw a 300-percent-plus return rate, and one that has seen more than 600 percent returns, according to Ca-Egypt.com.

Pinterest.com/HSBC Egypt
Pinterest.com/HSBC Egypt

HSBC Bank Egypt

HSBC Bank Egypt is a subsidiary of parent HSBC Holdings London, which holds over 90 percent of the bank’s market share and is the fifth largest banking group in the world. HSBC Bank Egypt has gone through several names and owners, starting as Hong Kong Egyptian Bank in 1982, transitioning into the Egyptian British Bank in 1994 and becoming HSBC Bank Egypt in 2001 when HSBC bought over 90 percent of the bank’s shares. Today the bank has over 70 branches, according to Ide.go.jp.

Almalnews.com/Bank of Alexandria
Almalnews.com/Bank of Alexandria

Alexbank

Alexbank is the third largest bank in Egypt’s private banking sphere. It’s owned by Italian banking group Intesa Sanpaolo. The bank boasts a market share of nearly 7 percent. With over 180 offices in Egypt, Alexbank focuses on providing financing to the micro, small and medium enterprise segment. The bank recently made a $10 million loan to SANAD, a group that works to create jobs and economic opportunities in North Africa and the Middle East, according to Sanad.Lu.

Alarabiya.net/National societe generale
Alarabiya.net/National societe generale

National Société Générale Bank

Qatar National Bank bought all of National Société Générale Bank’s shares in 2013 for almost $2 billion. This transaction was a part of the group’s need to meet new capital requirements, and earned Societe Generale $456 million in profits, according to Gulfbusiness.com. The sale also raised Societe Generale’s Tier 1 capital ratio by nearly 0.3 percentage points. The bank has a 7.64 percent market share of total loans and 5.18 percent share of total deposits.

Veb.ru/Commercial international bank of Egypt by Mr. Hossam Rageh
Veb.ru/Commercial international bank of Egypt by Hossam Rageh

Commercial International Bank

Commercial International Bank has been named the Best Trade Finance Bank in Egypt. It began as a joint venture between Chase Manhattan Bank and the National Bank of Egypt. The bank holds the highest loan market share in the private sector — 8.27 percent. The bank has over $22 billion in assets and serves over 700,000 customers, according to Cibeg.com.

Cipe.org/Banque du Caire
Cipe.org/Banque du Caire

Banque du Caire

The third top-rated Egyptian bank, Banque du Caire operates on an international level with a market share of 4.39 percent of total deposits and 3.87 percent total assets of the banking sector. The bank recently established a new money market fund along with Misr Beltone Asset Management with starting capital of about $13 million. The minimum initial buy-in price for a certificate to the fund is around $700, says Beltonefinancial.com.

Materialhouseproduction.com/Banque Misr
Materialhouseproduction.com/Banque Misr

Banque Misr

Banque Misr has been active for nearly 100 years and was ranked Best Provider of Money Market Funds in the Middle East in 2012, 2013 and 2014. It holds a market share of 15.9 percent of total banking system deposits. The bank holds more than $29 billion, according to AfricaRanking.com. Another bank on this list, the National Société Générale Bank, is a majority shareholder in Banque Misr.

Mimar-architects.com/National Bank of EgyptEl Sheikh
Mimar-architects.com/National Bank of EgyptEl Sheikh

National Bank of Egypt

National Bank of Egypt was established in 1898 and started with assets of around $130,000. The bank is mostly a commercial one, but since the 1960s it has been responsible for issuing and managing savings certificates for the government. In 2014, the bank saw over $50 billion in deposits, according to Nbe.com.eg.