NBE tops Egypt's Banks in achieving profits

National Bank of Egypt's net profits saw an unprecedented jump over the past year, rising 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 in 2023, with an estimated increase of EGP 68.358 bn.

This outstanding performance of NBE to be topped by the list of "First Bank" for the most active banks in the Egyptian banking sector for net profits during the first 9 months of 2024.

Overall, NBE achieved a strong performance over the past year, rising its asset portfolio at a growth rate of 41.28%, and an increase of EGP 2.161 tn over 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.

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.

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

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