The financial news outlet Business News recently released a number of performance indicators for Egyptian banks measuring their levels of growth and efficiency, reflecting their potential to seize new market shares at a time of shifting economic circumstances. The Commercial International Bank (CIB) was ranked as Egypt's most efficient bank, due to its strong average returns on assets and high shareholder returns. The bank's ability to keep its level of non-performing loans within safe limits while keeping operational costs under control also helped it to achieve its high ranking. Meanwhile the Egyptian Gulf Bank was ranked highest by Business News in terms of fastest yearly growth, with its reported asset growth increasing 29% year on year. Ranking banks by pace of growth and rate of efficiency came as part of an attempt by Business News' research team to provide specialised financial services to businesses and industries working in a number of sectors. Such statistics can be found at the company's online database, www.showmethefunds.com, which seeks to provide banking analysis based on measurements of risk and performance on returns. The report also seeks to objectively provide analysis on the strengths of various banks seeking to obtain larger shares of the Egyptian market. Business News employs a large number of researchers, editors and specialists who contribute to its reporting and work to help release indicators regarding Egypt's various banks. The organisation produces two daily newspapers, AlBorsa and Daily News Egypt, and is also affiliated with specialised training company Capital Markets Institute. It is expected that Business News will release by the beginning of next year its rankings for the 50 most powerful companies operating in Egypt, in addition to indicators describing Egypt's most active index of stocks and the ability of each to conform to Sharia. AlBorsa produces daily reports on the methodology of Egypt's fastest growing and most efficient banks, ranking each institution based off a number of sub indicators, with additional insight provided by interviews with Egypt's leading banking figures.
