Bank NXT's asset portfolio records the fastest annual growth in the last 4 years, with 29.3% growth

BANK NXT achieved a record increase in its total asset portfolio over the past year after it rose to 79.42 billion pounds by the end of 2024, compared to 61.45 billion pounds by the end of 2023, recording an increase of 17.98 billion pounds, and a growth rate of 29.3%, thus achieving the highest annual growth rate during Last 4 years. Tracking the portfolio’s growth journey over the period under analysis, we find that it recorded the second fastest annual growth rate during 2022 at 21.9%, with an increase of 9.97 billion pounds, reaching 55.39 billion pounds by the end of 2022, compared to 45.45 billion pounds by the end of 2021. As for the development in the size of the portfolio by the end of 2023, it increased at a growth rate of 11% and with an increase of 6.06 billion pounds, moving from 55.39 billion pounds by the end of 2022, and reaching 61.45 billion pounds by the end of 2023, while it recorded a growth rate of 7.9% during the year 2021. In general, the Bank was able to achieve distinguished results in its main financial indicators during the past year, as it witnessed a growth in its net profits by 54%, after recording 1.77 billion pounds during 2024, compared to 1.15 billion pounds by the end of 2023, an increase of 620 million pounds. The bank’s total portfolio of customer loans and facilities increased at a growth rate of 43% over the past year, after recording 32.51 billion pounds by the end of 2024, compared to 22.80 billion pounds by the end of 2023, with an increase of 9.72 billion pounds. Its total customer deposit portfolio jumped at a growth rate of 33.61% over the past year, recording 68.01 billion pounds by the end of 2024, compared to 50.90 billion pounds by the end of 2023, achieving an increase of 17.11 billion pounds. To view more news and analysis about Next Bank and its most prominent achievements, click here.