Egypt’s National Bank seen a growth in its net profits in 9M-22, to stand at EGP 22.8bn

Egypt’s National Bank (NBE), largest state-owned lender, revealed that its net profits have jumped to stand at EGP 22.778 billion, in addition its pre-taxes net profits increased to record EGP 48.588 billion during the first 9 months of 2022, according to its recently published financial results.

Moreover, NBE’s total deposits portfolio have also increased to record EGP 2.841 trillion at the end of September 2022, compared to EGP 2.386 trillion at the end of December 2021; with a growth rate of 19.04% and an increase of EGP 454.3 billion.

Meanwhile, the total loans and facilities to customers jumped by 24.28% to record EGP 1.460 trillion pounds at 9M-22, compared to EGP 1.175 trillion at the end of December 2021 increasing by EGP 285.2 billion.

Furthermore, the bank's total assets has also witnessed a leap by 16.94% to record EGP 3.781 trillion at 9M-22 in comparison to EGP 3.234 trillion at the end of December 2021 with an increase  of EGP 547.7 billion.