NBK Egypt’s growth accelerates to 25.58% during Q1-2023
First Bank
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.
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 % |
