NBE achieves the fastest quarterly growth rate in corporate loans for the last 4 years, with 56% growth

NBE's total corporate loan portfolio saw record growth in the first 9 months of last year, having jumped by 56%, marking the fastest quarterly growth in the last 4 years.

The bank's total corporate loan portfolio recorded about 3.295 trillion pounds by the end of September 2024, compared to 2.115 trillion pounds by the end of 2023, and an increase of 1.180 trillion pounds, thus taking the top of Egypt's fastest-growing banking sector in corporate loans in the first 9 months of last year.

In terms of growth rates in the past years, the Bank recorded the second fastest growth rate in corporate loan portfolio by 52.50% in the first 9 months of 2021, while the portfolio volume increased by 32.30% and 23.41% during the same period in 2023 and 2022 respectively.

Overall, the Bank achieved outstanding performance from January to September, with net profits jumping by 137%, registering about 118.367 billion pounds during the first 9 months of 2024, compared to 50.009 billion pounds during the same period from 2023, an increase of 68.358 billion pounds.

Net interest income rose by 60.64%, with an increase of 76.418 billion pounds, reaching 202.447 billion pounds during the first 9 months of 2024, compared to 126.029 billion pounds during the same period in 2023.

In terms of its financial position, the Bank's total asset portfolio increased by 41.28% and an increase of 2.161 trillion pounds over the first 9 months of last year, registering 7.394 trillion pounds by the end of September 2024, compared to 5.234 trillion pounds by the end of 2023.

The bank's total deposit portfolio recorded 4.692 trillion pounds by the end of September, compared to 3.733 trillion pounds by the end of 2023, to grow by 25.67% and an increase of 958.320 billion pounds during the first 9 months of 2024.

The bank's total loans jumped by 1.233 trillion pounds and a growth rate of 51.23% during the first 9 months of last year, bringing the portfolio size to 3.640 trillion pounds by the end of September 2024, compared to 2.407 trillion pounds by the end of 2023.