NBK Egypt’s growth accelerates to 22.64% during Q4-22

National bank of Kuwait Egypt’s growth accelerates during the fourth quarter of 2022, recording a compound growth rate of 22.64%, compared to a compound growth rate of 17.90% during the third quarter of 2022.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q4-2022.

The bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 38.65% during Q4-2022.

It also achieved a growth in total loans and facilities to customers at a rate of 12.41% during Q4-2022 and an increase in both asset and deposit portfolios by 20.55% and 18.94% respectivelyat the same period.

The bank’s net profits also increased in First Bank composite growth index during Q3-22 and achieved a growth of 49.11%.

Moreover, total loans portfolio increased by 2.63% during Q3-22, asset as well as deposit portfolios increased by 6.92% and 12.96%, respectively, at the same period.

It should be noted that all figures and growth rates included in the analysis are according to separate financial statements published on the official website of the bank.