NBK- Egypt Resource emoloyment rate increases to 98.90% by June-2023 end

National Bank of Kwuite- Egypt has successfully achieved a significant increase in its resource employment rate, jumping to 98.90% by the end of June this year, compared to 92.36% at the end of December 2022.

This indicator, launched by the research center affiliated with First Bank, measures the traditional resource emoloyment rate (deposits + equity) in (loans + financial investments) at banks operating in the Egyptian banking sector.

The notable increase achieved by the bank in this indicator during the first 6 months of 2023 is attributed to its continued adoption of an expansive policy in emoloying its traditional resources to support its financial results.

The bank's figures were a testament to this success. NBK employed EGP100.98 bn of its traditional resources, which amounted to EGP102.11 bn by the end of June 2023, in both loans and financial investments, with EGP32.95 bn for financial investments and EGP68.03 bn for total customer loans.

Meanwhile, the bank employed EGP88.41 bn of its traditional resources, which amounted to EGP95.73 bn at the end of 2022, in the categories of loans and financial investments, including EGP33.46 bn for financial investments and EGP54.95 bn for total customer loans.

Regarding the distribution of NBK - Egypt's traditional resources at the end of June 2023, the value of the deposit portfolio reached EGP89.92 bn, while the total equity amounted to EGP12.19 bn by the end of the same period this year.

Deposit emoloyment rate for granting loans at the bank saw a record increase during the first half of this year, jumping to 75.66% by the end of June 2023, compared to 65.06% at the end of the previous year.

As for deposit employment rate for financial investments, it decreased to 36.65% by the end of the first 6 months of 2023, compared to 39.62% at the end of December 2022.

The bank managed to significantly surpass the employment rate in the banking sector during the first half of 2023, as the employment index in the banking sector was about 90.53% by the end of April 2023, according to the latest data from CBE.

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