AlexBank sees collective decline in its market shares during 2022

The performance of AlexBank’s market shares witnessed a collective decline during 2022. Its market share in terms of retail loans has seen the largest slump while its market share in terms of deposits has witnessed the lowest deprecation.

AlexBank is part of Italy's leading banking group, Intesa Sanpaolo. The Egyptian-based bank was privatized in 2006 via the sale of 80% (today holding 70.25%) of its shares to the Italian group Sanpaolo.

The bank’s market share in terms of financial investments declined to account for 0.79% of the total financial investments (securities) in the banking sector at Q3-22 compared to 0.97% at the end of 2021.

However, bank’s market share in terms of assets fell 0.17% to stand at 1.16% of total assets of the banking sector at 9M-22 compared to 1.33 % at the end of 2021.

Faisal Islamic Bank’s market shares in terms of loans also decreased to acquire 1.59% of the total loans of the banking sector at the end of last September, compared to 1.79 % at the end of 2021, losing about 0.20% of its total share.

The decline in the bank witnessed in its market share in terms of loans was attributed to the slump it has seen in its market share of the retails loans to reach 3.90% at 9M-2022, compared to 4.31% by the end of 2021.

The largest slump in the bank’s market share during 2022 was the decline it witnessed in terms of deposits as it has lost about 0.16% of its total share to account 1.32% of the total deposits of the banking sector at 9M-22, compared to 1.48% at the end of 2021.

The decline that the bank witnessed in its market share in terms deposits was attributed to the slump in its market share in terms of retail deposits which decreased to stand at 1,69% of the total retail deposits of the banking sector at the end of September 2022 in comparison to 1.88% by the end of 2021, losing about 0.19% of its total market share