Emirates NBD grows by 60.23% on First Bank Composite Growth Index during Q1-2023

The financial statements of Emirates NBD Egypt, which ended on March 31, 2023, revealed that the bank recorded a composite growth rate of 60.23% in all branches of activity that include net profits, deposit, loan, and asset portfolios.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks with a single figure, during the first quarter of 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 215.94% to record EGP 964.654 mn during Q1- 2023, compared to EGP 305.327 mn at the same period 2022.

The bank's Total customer loans came in second place with a growth rate of 12.79% to reach EGP 52.340 bn by the end of March 2023, compared to EGP 46.404 bn by the end of 2022، with an increase of EGP 5.936 bn.

Furthermore, the bank's Total asset came in third place with a growth rate of 8.07% during the first quarter of this year, bringing the total portfolio from EGP 100.938 bn at the end of December 2022 to reach EGP 109.080 bn at the end of first quarter of this year, achieving an increase of EGP 8.142 bn.

In addition, Total customer deposit portfolio Jumped to record EGP 88.731 bn by the end of March 2023, compared to EGP 85.220 bn by the end of 2022, achieving a growth rate of 4.12%, and an increase of EGP 3.511 bn.