NBE Bolsters Asset Quality and Maintains Robust Financial Performance

National Bank of Egypt continued to exceptionally enhance the quality of its assets while maintaining strong Financial soundness index. This is reflected in the bank's declining non-performing loan ratio to 0.97% by the end of 2022, down from 1.06% at the end of 2021.

The bank retains its position as the bank with the lowest default rate in the Egyptian banking sector as a whole, emphasizing its support for customers in all circumstances and adherence to the highest credit standards.

This decline can be attributed to the reduction in the value of overdue loans to individuals, reaching EGP 690 mn by the end of 2022, compared to EGP 783 mn at the end of 2021, resulting in a reduction of defaults by approximately 11.8% during the past year, equivalent to EGP 93 mn.

This success is a result of NBE's efforts to reduce defaults across most of its individual products, especially credit cards, where defaults decreased from EGP 102 mn at the end of 2021 to EGP 57 mn by the end of 2022.

The bank also succeeded in reducing individual defaults in personal loans to EGP 567 mn and mortgage loans to EGP 64 mn, while overdraft defaults increased to EGP 2 mn, and the value of defaults in car loan products remained stable at EGP 1 mn by the end of 2022.

Regarding the value of overdue loans to companies, it reached EGP 16.13 bn by the end of 2022, compared to EGP 11.61 bn at the end of 2021.

The bank continued to maintain its position as Egypt's largest lender, with a substantial market share of 43.05% of the total banking sector loans by the end of 2022, up from 38.66% at the end of 2021, adding approximately 4.39% to its share.

This is a result of the significant increase in NBE's total customer loan portfolio, which rose by EGP 555.43 bn, reaching EGP 1.73 tn by the end of 2022, compared to EGP 1.17 tn at the end of 2021, representing an annual growth rate of 47.38%. It's worth noting that the portfolio continued to grow, reaching EGP 1.978 tn by the end of June 2023.

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