NBE's net profits grow by 137%, recording EGP 118.4 bn during 9M-2024

The separate financial statements of the National Bank of Egypt for the financial period ended September 30, 2024, revealed that its net profit rose by 136.69%, registering EGP 118.367 bn during the first 9 months of last year, compared to EGP 50.009 bn during the same period from 2023, with an increase of EGP 68.358 bn.

Profit before income taxes jumped to EGP 186.825 bn during the first 9 months of 2024, compared to EGP 83.034 bn during the same period of 2023, a 125% growth rate and an increase of EGP 103.791 bn.

In terms of the bank's financial position, the volume of the asset portfolio jumped by 41.28% and an increase of EGP 2.161 tn over the first 9 months of last year, reaching EGP7.394 tn by the end of September 2024, compared to 5.234 trillion by the end of December 2023.

The bank's total loans to customers and banks jumped by 51.23% over the first 9 months of last year, reaching EGP3.640 tn by the end of September 2024, compared to EGP 2.407 tn by the end of December 2023, an increase of EGP 1.233 tn.

The total customer deposit portfolio also increased by 25.67% in the first 9 months of last year, reaching EGP4.692 tn by the end of September 2024, compared to EGP 3.733 tn by the end of September 2023, an increase of EGP 958.320 bn.