NBE at the Top, accounting for 34.90% of the banking sector's total assets

The National Bank of Egypt (NBE) tops the list of the largest banks operating in the Egyptian banking sector in the asset market by the end of September 2024 by far from even its closest competitors, continuing to lead the Egyptian banking sector.

NBE accounts for more than one third of the assets of the Egyptian banking sector as a whole, accounting for about 34.90% of the sector's total assets by the end of September 2024.

This significant increase is a natural consequence of his great success in jumping its assets portfolio by 41.28%, and an increase of EGP 2.161 tn during the first 9 months of last year, reaching EGP 7.394 tn by the end of September 2024, compared to EGP 5.234 tn by the end of December 2023.

Overall, NBE achieved a strong performance over the past year, rising its net profit by 136.69%, to EGP 118.367 bn during the first 9 months of 2024, 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.

The bank's total customer loans rose by 51.23% during the first 9 months of last year, reaching EGP 3.640 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 EGP 4.692 tn by the end of September 2024, compared to EGP 3.733 tn by the end of September 2023, with an increase of EGP 958.320 bn.

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