NBK Egypt grows by 32.87% On First bank’s Composite Growth Index At 2022
National Bank of Kuwait -Egypt recorded a composite growth rate of 32.87% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio During 2022, according to its latest separate financial statements.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure by the end of 2022.
The bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by deposit portfolio that recorded a growth rate of 36.17% to record EGP 84.5bn by end of 2022, compared to EGP 62.02bn with an increase of EGP 22.4 bn at the end of 2021.
The bank’s asset portfolio came in second place as it increased to EGP105.01bn At the end of December 2022, compared to EGP 77.5 bn by the end of 2021, achieving a growth rate of 35.67%, and an increase of EGP 27.6 bn.
Furthermore, The bank’s net profit recorded a growth rate of 26.88%, EGP1.826 bn by end of 2022, compared to EGP 1.439 bn at the end of 2021 with an increase of EGP 386.8 mn.
The bank's Total loans and facilities to customers jumped by 32.74% to record EGP 55 bn at the end of 2022, compared to EGP 41.4 bn at the end of December 2021 with an increase of EGP 13.6 bn.
