Emirates NBD achieves the fastest annual growth in its customer loans in 8 years, with 40% growth
Emirates NBD-Egypt has been able to consolidate its leadership position in the Egyptian banking sector, marking exceptional growth in its funding volume over the past year, reflecting not only remarkable quantitative progress, but a practical reflection of an ambitious strategic vision, strengthened with increased confidence from customers and investors alike.
According to the bank's separate financial statements, total customer loans rose to 84.061 billion pounds by the end of 2024, compared to 60.066 billion pounds by the end of 2023, with a growth rate of 39.95% and a total increase of 23.995 billion pounds, marking the fastest annual growth in 8 years.
In 2023, the Bank achieved 29% growth in total loans to customers, while it recorded growth of about 12% and 10% in 2022 and 2021.
As for its performance during 2020, its total loans to customers jumped by 19% i, while it grew by 6%, 33% and 20% during 2019, 2018 and 2017 respectively.
The Bank's financial performance over the past year reflects a strong trend towards inclusive and sustainable growth, with notable rises in several key financial indicators, reflecting its ambitious strategy and future vision to strengthen its position in the banking market.
Net profits rose to Pound5.305 billion in 2024, compared to Pound3.234 billion in 2023, a growth of 64%, and a total increase of Pound2.070 billion.
Profit before income taxes jumped to Pound7.537 billion in 2024, compared to Pound4.886 billion in 2023, a growth rate of 54.26%, and an increase of Pound2.651 billion.
At the bank's financial position, its portfolio of assets rose by 24.05% over the past year, reaching 158.933 billion pounds by the end of 2024, compared with 128.118 billion pounds by the end of 2023, a total increase of 30.815 billion pounds.
