NBE tops the Fastest Growing Banks in Total Customer Loans

The National Bank of Egypt (NBE) expanded its credit grants significantly over the past year, as shown by its total portfolio of loans to 3.639 trillion pounds by the end of September 2024, compared to 2.407 trillion pounds by the end of December 2023, with an increase of 1.233 trillion pounds, and a growth rate of 51.23%.

This strong performance prompted NBE to top the "First Bank" list of the fastest growing banks in total customer loans during the first 9 months of last year.

This distinction not only increased quantitative growth, but also strengthened the Bank's position as a preferred destination for borrowers in the Egyptian market, as evidenced by the increase in market share to 47.10% of total Egyptian banking sector loans by the end of September 2024, compared to 45.53% by the end of 2023, adding to its 1.57% share in just 9 months.

Overall, the Bank achieved a strong performance over the past year, rising its net profit by 136.69%, to 118.367 billion pounds during the first 9 months of 2024, compared to 50.009 billion pounds during the same period from 2023, with an increase of 68.358 billion pounds.

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

The asset portfolio rose by 41.28%, an increase of 2.161 trillion pounds during the first 9 months of last year, to 7.394 trillion pounds by the end of September 2024, compared to 5.234 trillion pounds 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 4.692 trillion pounds by the end of September 2024, compared to 3.733 trillion pounds by the end of September 2023, an increase of 958.320 billion pounds.