NBE continues to lead deposit market in Egypt with a market share of 36.39% by September 2024-End

2/3/2025 12:48:18 PM

The National Bank of Egypt (NBE) tops the list of "First Bank" to the largest banks in terms of market share in customer deposits by the end of September 2024, far from even its closest competitors, continuing to top the Egyptian banking sector.

NBE accounts for more than one third of the Egyptian banking sector as a whole, accounting for about 36.39% of the sector's total deposits by the end of September 2024.

This significant increase is a natural consequence of its great success in jumping its portfolio of customer deposits by 25.67% in the first 9 months of last year, reaching EGP 4.692 trillion by the end of September 2024, compared to EGP 3.733 trillion by the end of September 2023, with an increase of EGP 958.320 bn.

At the top of Egypt's deposit market, NBE is responsible for many reasons. However, the most important of these are its continued interest in offering certificates and savings receptacles with a standard return. Most of the revenues offered to competing products in the sector, as well as the great confidence of Egyptians in it, which is constantly increasing thanks to its outstanding performance, and its professionally trained te

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, 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.

Asset portfolio rose by 41.28%, an increase of EGP 2.161 trillion during the first 9 months of last year, to EGP 7.394 trillion by the end of September 2024, compared to 5.234 trillion by the end of December 2023.

The Bank's total customers loans and banks rose by 51.23% during the first 9 months of last year, reaching EGP 3.640 trillion by the end of September 2024, compared with EGP 2.407 trillion by the end of December 2023, an increase of EGP 1.233 trillion.