Emirates NBD grows by 76.35% on First Bank index during H1- 2023

The financial statements of Emirates NBD Egypt, ending on June 30th of the past year, revealed that the bank achieved a cumulative growth rate of 76.35% during the first half of 2023. 

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, all from January to June 2023.

The bank achieved positive results across its 4 sub-indices making up First Bank index, led by its net profits, which saw the most significant growth at a rate of 267.5%, reaching EGP 1.942 bn during the first half of 2023, compared to EGP 528.5 mn during the same period in 2022.

The bank's asset size was the second contributor to this growth, increasing by 14.56% during the first half of the current year, reaching EGP 115.6 bn by the end of June 2023, compared to EGP 100.9 bn by the end of December 2022, a rise of EGP 14.7 bn.

Meanwhile, deposit portfolio size was the third contributor to the growth of Emirates NBD Egypt, with a growth rate of 12.49% and an increase of approximately EGP 10.6 bn during the first half of the current year, reaching EGP 95.7 bn by the end of June 2023, compared to EGP 85.2 bn by the end of December 2022.

Total customer loan portfolio of the bank increased by 10.91% during the first half of the current year, reaching EGP 51.5 bn by the end of June 2023, compared to EGP 46.4 bn by the end of December 2022, with an increase of EGP 5.1 bn.