BANK NXT tops the fastest-growing Banks in mortgage loans during 9M-2024

1/9/2025 10:50:43 AM

Bank NXT's mortgage portfolio grew remarkably during the first 9 months of last year, rising by 42.29%, to EGP 1.512 bn by the end of September 2024, compared to EGP 1.063 bn by the end of 2023, with an increase of EGP 449.591 mn.

Thanks to this strong growth, Bank NXT topped the "First Bank" list of the fastest growing banks in mortgage loans in the first 9 months of 2024, compared to sixth place in the same period in 2023.

Overall, Bank NXT performed well over the past year, jumping 66% net profits, registering 1.3 billion pounds in the first 9 months of 2024, compared to 801.3 million pounds in the same period of 2023.

Net interest income rose by 60%, registering EGP 2.9 bn in the first 9 months of 2024, compared to EGP 1.8 bn in the same period of 2023, as well as the bank's net operating revenue growing by 47%, registering EGP 3.7 bn in the first 9 months of 2024.

The main share in the Bank's profits during the period from early January to the end of September jumped to EGP 1.48 per share, compared to EGP 0.86 per share during the same period from 2023, with a growth of 72.09% and an increase of EGP 0.62 per share.

Its asset portfolio rose by 28% in the first 9 months of last year, registering EGP 78.9 bn by the end of September 2023, compared with EGP61.4 bn by the end of December 2023.

Its customer deposits portfolio rose by about 31% in the first 9 months of last year, reaching EGP 66.5 bn by the end of September 2024, compared to EGP 50.9 bn by the end of December 2023.

The Bank's total customer loans jumped by EGP 3.941 bn in the first 9 months of last year, registering EGP 26.738 bn by the end of September 2024, compared to EGP 2.796 bn by the end of 2023, with a growth of 17.29%.