NBK Egypt’s growth accelerates to 25.58% during Q1-2023
First Bank
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National Bank of Kuwait Egypt’s growth accelerates during the First quarter of 2023, recording a compound growth rate of 25.58%, compared to 22.64% during Q4-2022.
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 Q1-2023.
The bank was able to achieve positive results in all 4 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 86.82% during Q1-2023.
It also achieved a growth in net loans and facilities to customers at a rate of 7% during Q1-2023, and an increase in both asset and deposit portfolios by 4% and 4.5%, respectively, at the same period.
The bank’s net profits also increased on First Bank composite growth index during Q4-22 to achieve a growth rate of 38.59%.
The bank’s Total deposit portfolio increased by 19% during Q4-22, asset as well as loan portfolios increased by 20.51% and 12.49%, respectively, at the same period.
It should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
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Indicators of NBK Egypt
# | Indicators | Value At Q1-2023 | Growth rate % | Value At Q4-2022 | Growth rate % |
---|---|---|---|---|---|
1 | Net Profits | 652 million pounds | 86.82 % | million pounds | 38.59 % |
2 | Total Assets | 109.3 Billion pounds | 4 % | Billion pounds | 20.51 % |
3 | Total customer deposits | 88.3 Billion pounds | 4.5 % | Billion pounds | 19 % |
4 | Net customer loans | 58.1 Billion pounds | 7 % | Billion pounds | 12.49 % |
5 | Composite Growth | 25.58 % | 22.64 % |