Tamer Seif Eldin pushes BANK NXT's loan portfolio to achieve record leap within 3 years

BANK NXT has witnessed a strategic transformation since Tamer Seif Eldin assumed the position of CEO and Managing Director of the bank in January 2022, as he led the bank in a pivotal transitional phase, during which it faced many challenges resulting from the comprehensive restructuring and changing the bank’s name and identity to be in line with a modern vision based on Innovation and enhancing financial inclusion.

Under his supervision, the process of transforming the bank from «Arab Investment Bank» to Bank NXT was completed in a qualitative step that reflects a strategy aimed at attracting the younger generation and improving the customer experience. He focused on developing the bank’s technological and digital infrastructure, which contributed to raising the efficiency of banking services, accelerating their operations, providing a more advanced banking experience, Development and flexibility. 

In this article, we discuss with decision makers the role of Tamer Seif Eldin and the impact of his distinguished leadership on the growth of Bank NXT’s portfolio of customer loans and facilities, specifically at the level of the individual and institutional loan sectors. 

Bank NXT was able to double the total loans of its customers during the era of Tamer Seif Eldin by about 3 times, as the size of its portfolio jumped at a growth rate of 188%, moving from 11.31 billion pounds by the end of 2021, to 32.51 billion by the end of 2024, achieving an increase of 21.21 billion pounds. 

This significant increase in the bank’s total customer loan portfolio was driven by the tremendous growth in corporate loan portfolio, which rose at a growth rate of 195.5% and an increase of about 14.68 billion pounds during the period under analysis, to record about 22.19 billion pounds by the end of 2024, compared to 7.51 billion by the end of 2021. 

The total portfolio of retail loans also increased from 3.80 billion pounds at the end of 2021, to reach 10.32 billion by the end of 2024, jumping at a growth rate of 172% and an increase of 6.53 billion pounds during the period under analysis. 

The bank significantly enhanced the size of its syndicated loan portfolio, which jumped by 276%, with an increase of about 4.24 billion pounds during the period under analysis, moving from 1.54 billion pounds by the end of 2021, and reaching 5.78 billion by the end of 2024. It also expanded the injection of direct Corporate loans during the period under analysis, as the size of the portfolio jumped at a growth rate of 209% and an increase of 10.91 billion pounds, reaching 16.14 billion pounds by the end of 2024, compared to 523 billion by the end of 2021. 

The rate of placement of deposits to grant loans at Bank NXT increased by about 18.62% during the period under analysis, reaching 47.81% at the end of 2024, compared to 29.19% at the end of 2021. 

As for the percentage of customer loans out of Bank NXT’s total assets, which reflects the relative importance of financing in the bank’s assets, it increased from 21.05% at the end of 2021, to reach 37.89% at the end of 2024. 

In general, Tamer Seif Eldin’s efforts since assuming the executive leadership of Next Bank have resulted in strong growth rates, as the bank achieved a qualitative leap in its net profits after jumping at a rate of 303.2%, recording 1.77 billion pounds during the year 2024, compared to losses amounting to 871.1 million pounds during the year.2021. 

In terms of the bank’s profit growth over the past year, it achieved a growth rate of 54% and an increase of 620 million pounds, recording 1.77 billion pounds in 2024, compared to 1.15 billion in 2023. 

The bank's total assets jumped at a growth rate of 75%, with an increase of about 33.97 billion pounds during the period under analysis, bringing the size of the portfolio to 79.42 billion pounds by the end of 2024, compared to 45.45 billion by the end of 2021, while the portfolio achieved a growth rate of 29% during the past year alone.