NBK Egypt’s net profit jumps by 87.1%, records EGP 652.5 mn At Q1-2023

The Separate Financial Statements of National Bank of Kuwait Egypt, which ended on March 31, 2023, revealed an increase in the bank’s net profit, with a growth rate of 87.12%, to record EGP 652.5 mn during the first quarter of 2023, compared to EGP348.7mn during the same period of 2022, an increase of EGP 303.8 mn.

Total loans and facilities to customers increased by a growth rate of 7% during the first quarter of 2023, with an increase of EGP 3.8 bn, to reach EGP 58.1 bn at the end of March 2023, compared to EGP 54.3 bn at the end of December 2022.

The bank’s total deposit portfolio increased by a growth rate of 4.5% during the first quarter of this year, after the bank was able to increase its deposits by EGP 3.8 bn, to record EGP88.3 bn at the end of March 2023, compared to EGP 84.5 bn at the end of December 2022.

In addition, The bank’s total assets increased by 4% during the first quarter of this year, to record EGP 106.9 bn at the end of March 2023, compared to EGP 105.2 bn at the end of December 2022, an increase of EGP 4.2 bn.