NBE grows 31.08% on First Bank’s composite growth index during Q3-22
National Bank of Egypt-NBE recorded a composite growth rate of 31.08% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio at the first 9 months of 2022, according to its latest separated financial results.
This rate was measured through a composite growth index developed by First Bank to identify the financial performance of banks with a single figure from July to sep-2022
NBE achieved positive results in all four sub-indicators net profit which formulated First Bank composite growth index, led by net profit that recorded a growth rate of 112.78% to record net profit EGP 8.675billion during Q3-2022, compared to EGP 4.077 billion at the same period of 2021.
In addition, the bank's loans and facilities to customers jumped by 4.80% to record EGP 1.460 trillion at the end of September 2022, compared to EGP 1.393 trillion at the end of June 2022 with an increase of EGP 67 billion
However, the assets portfolio jumped by 3.83% during Q3-2022, while Total assets come with value EGP3.781 trillion by the end of September 2022 compared to 3.658 trillion pound at the end of June 2022 with an increase of EGP123billion.
The total deposits portfolio increased by 2.90%, recorded 2.841 trillion pounds by the end of September 2022 compared to 2.761 trillion pounds by the end of June 2022, an increase of EGP 80 billion pounds .
