Amr El Shafei reshapes loans route in Emirates NBD – Egypt within two years

Emirates NBD Egypt has achieved a significant performance since Amr El Shafei assumed the position of Chief Executive Officer of the Bank in February 2023, across all of the Bank's financial indicators. In this article we address the role of El Shafei and the impact of its distinctive strategy on the size of the Bank's customer loan portfolio.

Emirates NBD-Egypt has been able to achieve a surge in total customer loans within a short period of time, especially since Amr El Shafei assumed executive leadership at the bank, the size of the portfolio jumped by 71.3% and an increase of EGP 33.10 bn The portfolio grew by EGP 79.49 bn by the end of September 2024, compared to 46.40 bn by the end of December 2022, while the portfolio grew by about 32.34% in the first 9 months of last year.

The dramatic increase in the Bank's total portfolio of loans was driven by the exponential growth in its corporate finance portfolio. The Bank expanded the granting of credit to corporates, increasing the total portfolio by 84.15% and an increase of EGP 28.53 bn, reaching EGP 62.44 bn by the end of September, compared to 33.91 bn by the end of December 2022.

The total retail loan portfolio also increased by 36.46% and an increase of EGP 4.56 bn during the period under analysis, moving from EGP 12.50 bn by the end of December 2022, reaching 17.05 bn by the end of September 2024.

The bank significantly boosted the size of the portfolio of direct loans to corporates, which jumped by 89.50% and an increase of about EGP 10.37 bn during the period under analysis, registering EGP 21.95 bn by the end of September 2024, compared to 11.58 bn by the end of December 2022.