NBK- Egypt grows by 36.5% on First Bank composite growth index during H1- 2023

The latest financial indicators from National Bank of Kuwait- Egypt, released on the bank's official website, reveal a cumulative growth rate of 36.50% during the first half of 2023.

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

The bank achieved positive results in all 4 sub-indicators that make up First Bank index, with net bank profits leading the way, showing the highest growth rate at 106.74%, reaching EGP 1.565 bn during the first half of 2023, compared to EGP757 mn in the same period in 2022, an increase of EGP808 mn.

Total loan portfolio and credit facilities at the bank were the second contributor to this growth, increasing by a growth rate of 23.64% during the first half of the current year, reaching EGP68 bn by the end of June 2023, compared to EGP55 bn at the end of December 2022, an increase of EGP13 bn.

The size of Asset portfolio was the third contributor to the growth of NBK- Egypt, with a growth rate of 9.23% and an increase of approximately EGP 9.7 bn during the first half of the current year, reaching EGP 114.8 bn by the end of June 2023, compared to EGP105.1 bn at the end of December 2022.

Total customer deposits portfolio at the bank increased by a growth rate of 6.39% during the first half of the current year, reaching EGP89.9 bn by the end of June 2023, compared to EGP 84.5 bn at the end of December 2022, with an increase of EGP5.4 bn.