Egypt’s National of Egypt enhances financial investments during 9M-2

The latest financial data of the National Bank of Egypt revealed that the bank’s asset portfolio grew by 16.94%, to record 3.781 trillion pounds at the end of September 2022, compared to 3.233 trillion pounds at the end of 2021, an increase of 547.672 billion pounds.

According to the investment tendencies of NBE during the first 9 months of 2022; it has been found that the bank has invested its money in financial investments, which is meant by an increase in the percentage of financial investments from the bank’s total assets to 46.67% at the end of last September, compared to 41.90% at the end of 2021.

Furthermore, the bank's total financial investments increased by 30.26%, to reach EGP 1.765 trillion at the end of the third quarter of 2022, compared to EGP 1.354 trillion at the end of 2021, an increase of EGP 409.984 billion.

In terms of the loan portfolio, it ranked second in the bank's investment orientation, with 37.12% of the bank's total assets at the end of September 2022, compared to 34.95% at the end of 2021.

Moreover, the bank’s net loans jumped from 1.130 trillion pounds at the end of the third quarter of 2022, to stand at 1.403 trillion pounds at the end of 2021, with a growth rate of 24.21%, and an increase of 273.580 billion pounds.

In terms of other items that form the assets portfolio, Bank balances by 7.91% of the bank's total assets at the end of September 2022, compared to 16.42% at the end of 2021.

Such investment strategy enhanced the bank performance to record exceptional net profit during the first 9 months of 2022; as it rose to 22.778 billion pounds