Bank NXT's total customer loans jump by 136.5% in less than 3 years, recording EGP EGP26.74 bn

BANK NXT has achieved a record rise in total customer loans and facilities in less than 3 years, after the portfolio volume jumped by 136.5%, reaching 26.739 billion pounds by the end of September 2024, compared to 11.305 billion pounds by the end of 2021.

Tracking the growth of the total portfolio of loans and customer facilities over the period under analysis, it increased in 2022 at a growth rate of 84.5% and a difference of 9.552 billion pounds, registering 20.857 billion pounds by the end of 2022, compared to 11.305 billion pounds by the end of 2021.

In 2023, the Bank's total loans and facilities increased by 9.30%, increasing by 1.906 billion pounds, registering 22.797 billion pounds by the end of 2023, compared to 20.857 billion pounds by the end of 2022.

As for the development of the portfolio size in the first 9 months of 2024, it rose at a growth rate of 17.3% and an increase of 3.942 billion pounds, reaching 26.739 billion pounds by the end of September, compared to 22.797 billion pounds by the end of 2023.

In general, the Bank achieved outstanding results in its key financial indicators during the first 9 months of last year, seeing a 66% net profit growth, after registering 1.3 billion pounds in the first 9 months of 2024, compared to 801.3 million during the same period in 2023.

In terms of the bank's financial position, the deposit portfolio rose by 30.61% during the first 9 months of 2024, reaching 66.480 billion pounds by the end of September 2024, compared to 50.900 billion pounds by the end of 2023, an increase of 15.579 billion pounds.

Its asset portfolio rose by 28.35% in the first 9 months of last year, reaching 78.865 billion pounds by the end of September 2024, compared with 61.445 billion pounds by the end of 2023, an increase of 17.419 billion pounds.

The Bank's total customer loans jumped by 3.941 billion pounds in the first 9 months of last year, registering 26.738 billion pounds by the end of September 2024, compared to 2.796 billion pounds by the end of 2023, a growth of 17.29%.

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