NBE soars its share to 36.26% in The Deposits market

The National Bank continues its efforts, whether in supporting the national economy or in catching up with the race of everything new to enhance its customer base and serve them.

The bank topped First Bank list of the largest banks in market shares of deposit portfolios at the end of last September, with a market share of 36.26%, at the end of last September, the bank's share exceeds one-third of the entire banking sector’s deposits, Its unique performance led by Hashem Okasha, Chairman of the Board of Directors of the Bank.

due to His keenness to offer certificates and savings pool with a record yield, which always exceeds most of the yields offered on competing products in the sector.

During the past year, the bank announced the issuance of a certificate with a historical yield, which was 18%, Coinciding with the Central Bank raising interest rates by 1% last March, to collect proceeds of 515 billion pounds within a period not exceeding 40 days.

This was a major reason for the significant increase, as savings certificates and return constituted 67.74% of the bank's total deposits.

Savings Certificates and returns jumped by 21.71%, to reach 1.92 trillion pounds at the end of September 2022, compared to 1.58 trillion pounds at the end of 2021, an increase of 343.26 billion pounds.

While demand deposits also increased by about 35.90%, to record 471.91 billion pounds at the end of the third quarter of 2022, compared to 347.23 billion pounds at the end of 2021, an increase of 124.67 billion pounds.

While the share of NBE was not affected by the decline in the growth of savings deposits with the bank, reached 9.59% of the bank’s total deposits by the end of September 2022.

Savings deposits decreased by 10.28%, to record 272.53 billion pounds at the end of the third quarter of 2022, compared to 303.77 billion pounds at the end of 2021