NBE achieves the fastest quarterly growth rate during the last 4 years in its deposit portfolio with 26% growth

NBE managed to achieve remarkable growth in its customers' total deposits during the first 9 months of last year, after the portfolio volume increased by 25.67%, thus registering the fastest quarterly growth rate in the last 4 years.

The Bank's total customer deposit portfolio was about 4.69 trillion pounds by the end of September 2024, compared to 3.73 trillion pounds by the end of 2023, an increase of 958.32 billion pounds.

In terms of growth rates in the past years, the Bank recorded the second fastest growth rate in its total customer deposits by 20.61% during the first 9 months of 2021, while the portfolio volume increased by 19.04% and 11.22% during the same period in 2022 and 2023 respectively.

Overall, the Bank achieved outstanding performance from January to September, with net profits jumping by 137%, registering about 118.37 billion pounds during the first 9 months of 2024, compared to 50.01 billion pounds during the same period from 2023, an increase of 68.36 billion pounds.

Net interest income rose by 60.64%, with an increase of 76.42 billion pounds, reaching 202.45 billion pounds in the first 9 months of 2024, compared to 126.03 billion pounds in the same period of 2023.

The bank's net fee and commission income also increased at a growth rate of 46.61% and an increase of 6.03 billion pounds, reaching 18.98 billion pounds during the first 9 months of 2024, compared to 12.94 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 2.16 trillion pounds over the first 9 months of last year, registering 7.39 trillion pounds by the end of September 2024, compared to 5.23 trillion pounds by the end of 2023.

The bank's total deposit portfolio recorded 4.69 trillion pounds by the end of September, compared to 3.73 trillion pounds by the end of 2023, to grow by 25.67% and an increase of 958.32 billion pounds during the first 9 months of 2024.

The bank's total loans jumped by 1.23 trillion pounds and a growth rate of 51.23% during the first 9 months of last year, bringing the portfolio size to 3.64 trillion pounds by the end of September 2024, compared to 2.41 trillion pounds by the end of 2023.