NBE Acquires 40.36% Of The Banking Sector Loans

The National Bank of Egypt acquired more than a third of the market share of the banking sector as a whole, thanks to the provision of a large number of distinguished loan products that succeeded in attracting a large segment of customers, whether they were individuals or corporates.

 National Bank of Egypt topped First bank  list with a market share of 40.36% of the total banking sector loans by the end of September 2022.

As a result of the growth achieved in the bank’s products, despite the fact that its focus on individual financing reached 14.16% at the end of last September.

Individual loans portfolio jumped from 159.31 billion pounds at the end of 2021 to 206.79 billion pounds at the end of September 2022, an increase of 47.48 billion pounds

resulted in an increase in  personal loan portfolio by 28.20%, to record EGP 169.11 billion at the end of last September, compared to EGP 131.91 billion, achieving a growth rate of 28.20%, and an increase of EGP 37.2 billion.

Mortgage loans also increased to 15.7 billion pounds at the end of last September, compared to 12.04 billion pounds at the end of 2021, achieving a growth rate of 30.42%, and an increase of 3.66 billion pounds.

Debit current accounts rose by 65.01%, to record 7.78 billion pounds at the end of the third quarter of 2022, compared to 4.72 billion pounds at the end of 2021, an increase of 3.07 billion pounds.

Credit cards jumped from 8.7 billion pounds at the end of 2021, to 10.99 billion pounds at the end of last September, achieving a growth rate of 26.38%, and an increase of 2.29 billion pounds.

Car loans grew by 65.67%, to record 3.22 billion pounds by the end of the third quarter of last year, compared to 1.94 billion pounds by the end of 2021, an increase of  1.28 billion pounds.

While corporates recorded 85.84% of the bank’s total financing by the end of September 2022, which was a major reason for the bank’s acquisition of more than two-thirds of the Egyptian banking sector’s loans.

 corporates loans increased by 237.74 billion pounds, at a value of 1.25 trillion pounds at the end of September, compared to 1.02 trillion pounds at the end of 2021, a growth rate of 23.41%.

Due to the increase in current accounts debited to the bank by 51.71%, to record 487.46 billion pounds at the end of the third quarter of 2022, compared to 321.31 billion pounds at the end of 2021, an increase of 166.15 billion pounds.

The direct loan portfolio grew by 7.79%, to record 525.56 billion pounds at the end of September 2022, compared to 487.601 billion pounds at the end of 2021, an increase of 37.96 billion pounds.

Syndicated loans portfolio rose to 238.38 billion pounds by the end of the third quarter of 2022, compared to 212.98 billion pounds by the end of 2021, a growth rate of 11.93%, an increase of 25.41 billion pounds, recording 19.02% of total corporates loans at the end of last September.