Amr El-Shafei lifts Emirates NBD Egypt deposits by over EGP 100bn in four years

8/30/2026 2:07:39 PM

Amr El-Shafei, chief executive officer and managing director of Emirates NBD Egypt

Emirates NBD Egypt has entered a new phase of growth and expansion since Amr El-Shafei, chief executive officer and managing director, assumed executive leadership in February 2023.

During the period under review, the bank recorded strong growth across its financial indicators over a relatively short period, supported by an integrated strategy aimed at improving operational efficiency, diversifying income sources and providing innovative banking solutions, strengthening Emirates NBD Egypt’s position among banks operating in Egypt.

Emirates NBD Egypt’s total customer deposits jumped 125.4 per cent under El-Shafei’s leadership, reaching EGP 192.04 billion at end-June 2026 from EGP 85.22 billion at end-2022, an increase of EGP 106.82 billion.

The strong increase in total customer deposits was driven by substantial growth in retail deposits, which surged 197.3 per cent to EGP 80.11 billion at end-June 2026 from EGP 26.95 billion at end-2022, an increase of EGP 53.16 billion.

This growth increased the share of retail deposits in total customer deposits to 41.7 per cent at end-June 2026 from 31.6 per cent at end-2022.

Corporate deposits accounted for 58.3 per cent of total customer deposits at end-June 2026, after growing 92.1 per cent over the period. The portfolio increased by EGP 53.66 billion to EGP 111.93 billion at end-June 2026 from EGP 58.27 billion at end-2022.

Retail deposits therefore grew faster than corporate deposits over the period and recorded a larger percentage increase, reflecting a shift in the deposit mix towards retail customers, while corporate deposits remained the bank’s main source of funding.

Overall, El-Shafei’s tenure was accompanied by strong growth across the bank’s financial indicators in H1 2026. Net profit rose 9.6 per cent to EGP 3.31 billion in the first half of 2026 from EGP 3.02 billion in the corresponding period of 2025.

Profit before tax increased 16.9 per cent to EGP 5.13 billion in H1 2026 from EGP 4.39 billion in the same period of 2025.

Net interest income rose to EGP 7.55 billion in H1 2026 from EGP 6.09 billion a year earlier, representing growth of about 24 per cent.

Net fees and commission income edged up 0.6 per cent to EGP 923.56 million in H1 2026 from EGP 918.46 million in the corresponding period of 2025.

On the financial position side, total assets jumped to EGP 247.63 billion at end-June 2026 from EGP 207.53 billion at end-2025, representing growth of 19.3 per cent in the first half of the year.

Total loans and facilities to customers also grew 19.3 per cent in H1 2026 to EGP 114.01 billion at end-June from EGP 95.57 billion at end-2025.

In terms of asset quality, the non-performing loan ratio declined to 3.40 per cent at end-June 2026 from 4.01 per cent at end-2025, a decrease of 61 basis points, reflecting the effectiveness of the bank’s credit risk management.