Is NBK-Egypt closing in on private banking top four?

Translated & Edited by Aya Elsayed

Over three and a half years, National Bank of Kuwait – Egypt (NBK-Egypt) moved from trailing Alexbank in loan portfolio size to holding a lead of more than EGP 55bn.

NBK-Egypt’s loan portfolio rose from EGP 54.95bn at end-2022 to EGP 148.52bn at end-June 2026, while Alexbank’s portfolio increased from EGP 59.61bn to EGP 92.69bn over the same period.

The shift therefore went beyond simply overtaking its competitor. NBK-Egypt steadily widened the gap between the two portfolios throughout the period under review.

2023: The turning point

The decisive shift came in 2023. NBK-Egypt added approximately EGP 21.11bn to its loan portfolio, compared with EGP 4.32bn at Alexbank.

As a result, NBK-Egypt moved from trailing by around EGP 4.66bn at end-2022 to leading by approximately EGP 12.12bn at end-2023, reversing the two banks’ positions by loan portfolio size within a single year.

That advantage widened further in 2024. NBK-Egypt added around EGP 28.16bn to its portfolio, compared with EGP 9.18bn at Alexbank, pushing the gap between the two balances to EGP 31.10bn.

The significance of the larger addition at NBK-Egypt extended beyond the absolute increase itself. It directly widened the distance between the two portfolios by approximately EGP 18.98bn over the year.

This stage illustrates an important feature of the competition: the size of the gap at any point is shaped not only by each bank’s current-year growth, but also by the differences accumulated in previous years.

The narrower gap between the two banks’ annual additions in 2025 was therefore insufficient to alter the direction of the competition, as NBK-Egypt continued to add more to its portfolio than Alexbank.

H1 2026: The gap widens again

During the first half of 2026, NBK-Egypt’s loan portfolio rose to EGP 148.52bn from EGP 122.60bn at end-2025, an increase of EGP 25.92bn.

Alexbank’s portfolio, meanwhile, increased to EGP 92.69bn from EGP 83.73bn, adding EGP 8.97bn over the same period.

The difference between the two additions widened the portfolio gap by approximately EGP 16.95bn in just six months, taking it to EGP 55.82bn at end-June 2026.

NBK-Egypt’s H1 2026 increase also exceeded the EGP 18.39bn it added during the whole of 2025, highlighting the scale of the bank’s recent expansion relative to the previous full year.

Viewed across the entire period, NBK-Egypt’s advance unfolded in distinct stages: it overtook Alexbank in 2023, consolidated its lead in 2024, continued to widen the gap at a slower pace in 2025, and then accelerated that divergence again in H1 2026.

That progression gives the comparison its main significance. The final gap does not simply measure the difference in portfolio size at end-June 2026; it reflects the cumulative effect of consistently larger additions at NBK-Egypt over the period.

NBK-Egypt’s position among the largest private-bank loan portfolios

At end-June 2026, NBK-Egypt’s loan portfolio stood at EGP 148.52bn, placing it sixth among private-sector banks under the ranking used in the analysis.

By comparison, Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) recorded EGP 198.23bn, First Abu Dhabi Bank – Egypt (FABMISR) EGP 167.1bn, Arab African International Bank (AAIB) EGP 287.5bn, QNB Egypt EGP 518.91bn and Commercial International Bank – Egypt (CIB) EGP 631.34bn.

At end-2022, NBK-Egypt also ranked sixth, with a loan portfolio of EGP 54.95bn. At that point, ADIB-Egypt recorded EGP 59.68bn, FABMISR EGP 52.99bn, AAIB EGP 126.03bn, QNB Egypt EGP 230.77bn and CIB EGP 218.63bn.

Although NBK-Egypt succeeded in overtaking Alexbank during the comparison period, the competitive landscape also changed around it. FABMISR moved forcefully into the tier in which NBK-Egypt competes and finished the period ahead of it by loan portfolio size.

That limited the impact of NBK-Egypt’s advance over Alexbank on its overall ranking, leaving the bank in sixth place among private-sector lenders.

Taken as a whole, the comparison reveals a fundamental shift in the relationship between the two banks. NBK-Egypt no longer competes with Alexbank from the position of the smaller lender; it now leads by EGP 55.82bn, after its cumulative increase exceeded Alexbank’s by approximately EGP 60.48bn.