Banks offering e-services have best retail banking

Banks that offer the largest number of e-services outperform those that ignore this type of banking, the Business News Index of Best Retail Bank revealed.
The Best Retail Bank Index depends on the number of e-services for individuals at banks and the quality of transactions carried out through these services. It also measures the geographical spread, the number of loan products, and the volume of individual loan portfolios compared to total portfolios in banks, as well as wealth management services.

The Commercial International Bank (CIB) topped the Business News index for best retail bank for the second year in a row, followed by the National Bank of #Egypt (NBE), which has the largest spread of ATMs in #Egypt and the largest market share of individual transactions.

According to the index, the Housing and Development Bank (HDB) allocates the largest part of its loans to individuals, amounting to 61% of total loans, followed by the Bank of Alexandria, which allocates 43%.

The banks with small individual loan portfolios have achieved high growth rates of almost 200% in 2016. Ahli United Bank topped the list of fastest-growing banks in individual loans, according to Business News indexes. The bank's individual loan portfolio reached EGP 1.98bn at the end of December 2016, compared to EGP 675bn at the end of 2015, with a growth rate of 193%.

Misr #Iran Development Bank (MIDB) came in second place, achieving a growth rate of 191.6%, with an individual loan portfolio of EGP 570m, compared to EGP 196m last year. The Saudi Investment Bank (SAIB) was the third fastest growing bank in individual loans, at a growth rate of 160.6%, bringing its total portfolio to EGP 4.14bn, compared to EGP 1.58bn.