Emirates NBD-Egypt limits its tendency towards granting loans at 9M-22

2/22/2023 3:19:03 PM

Emirates NBD Egypt, Dubai's government-owned bank unit in the Egyptian market, revealed its asset portfolio grew by 12.55% to record EGP92.94 billion at the end of September 2022, compared to EGP82.58 billion at the end of 2021; an increase of EGP10.37 billion.

Upon tracking the bank’s investment trends during 2022; it was found that its tendency towards directing its investments towards granting loans. Thus, its loans to total assets ratio has declined to 45.04% at the end of last September, compared to 47.27% at the end of 2021.

The bank’s financial investment portfolio ranked second, as it acquired a relative weight of 33.15% of the bank's total assets at the end of September 2022, compared to 34.35% at the end of 2021.

Balances with banks came in third place after acquiring a relative weight of 14% of the bank’s total assets at the end of September 2022, compared to 9.02% at the end of 2021.

Emirates NBD achieved average performance during the first 9 months of last year with the exception of the bank’s net profit which increased by 76.88% to record EGP 852.59 million pounds at 9M-22 compared to 482.03 million during the same period of 2021; an increase of EGP 370.56 million.

Emirates NBD’s total loans portfolio increased by 8.29%, to record EGP45.002 billion at the end of last September, compared to EGP41.557 billion at the end of 2021; an increase of EGP 3.45 billion.

Meanwhile, its total deposits portfolio recorded a growth rate of 13.31%, increasing to EGP 76.6 billion at the end of September 2022, compared to EGP67.6 billion at the end of December 2021.

The bank's asset portfolio increased by 12.55% during the first 9 months of last year jumping from EGP82.6 billion s at the end of December 2021 to EGP 92.9 billion at the end of September 2022.

Furthermore, the bank's total financial investments increased by 8.59% to record EGP 30.81 billion at the end of the third quarter of 2022, compared to EGP 28.37 billion at the end of 2021; an increase of EGP 2.44 billion.