NBK Egypt strengthens retail share of deposits

Translated & Edited by Aya Elsayed

National Bank of Kuwait – Egypt (NBK Egypt) significantly expanded its retail deposit base over the past five years, with balances rising to EGP 102.4 billion at end-March 2026 from EGP 32.6 billion at end-2020.

The increase of EGP 69.8 billion, 214.5 per cent, reflecting the bank’s ability to build a substantial retail savings base that exceeded EGP 100 billion by the end of the period and became a key component of its funding structure.

The significance of this growth becomes clearer when compared with corporate deposits. Although corporate deposits grew at a faster pace, rising 490.2 per cent to EGP 101.2 billion at end-March 2026 from EGP 17.2 billion at end-2020, an increase of EGP 84.1 billion, retail deposits remained the largest single component of the bank’s deposit base, exceeding corporate deposits by about EGP 1.2 billion.

The period therefore ended with an almost evenly balanced deposit base between the two segments, with retail deposits retaining a slight lead. This is significant given that retail deposits reached such a substantial level alongside strong growth in corporate deposits.

At the same time, total deposits rose 309.6 per cent to EGP 203.6 billion at end-March 2026 from EGP 49.7 billion at end-2020, an increase of EGP 153.9 billion.

Retail deposits contributed EGP 69.8 billion, or 45.4 per cent, of that increase, compared with 54.6 per cent from corporate deposits. Retail customers therefore accounted for nearly half of the growth in the bank’s deposit base, making the segment one of the main drivers of funding expansion.

The increase in deposits was also reflected directly in the bank’s asset growth. Total assets rose 314.4 per cent to EGP 257.7 billion at end-March 2026 from EGP 62.2 billion at end-2020, an increase of EGP 195.5 billion. The EGP 69.8 billion increase in retail deposits was equivalent to about 35.7 per cent of the total increase in assets.

The EGP 153.9 billion rise in total deposits, meanwhile, was equivalent to about 78.7 per cent of the increase in assets. This reflects the bank’s ability to use growth in its funding sources to support balance-sheet expansion, while retail deposits became an increasingly important source of that funding.

The value of building a large retail deposit base extends beyond funding alone. A broader and more diversified pool of depositors reduces reliance on a limited number of large customers and supports greater flexibility in funding management.

It also gives the bank greater scope to deepen customer relationships and offer additional products such as loans, credit cards, financing and payment services, creating opportunities for future business growth and revenue diversification.

The past five years therefore reflect a marked increase in both the scale and importance of retail deposits at NBK Egypt, supported by continued growth in its customer base and a stronger presence in retail banking.

This development points to a more mature retail deposit base that has become one of the main pillars supporting the bank’s growth, while also creating opportunities to expand its customer base, increase banking transactions and product penetration, and strengthen its capacity to generate recurring and sustainable growth over the coming period.