NBE tops banks on First Bank index for depositor confidence during H1-2023

NBE continued its unique and exceptional performance, with its customer deposits portfolio growing by 6.3% to reach EGP 3.4 tn by the end of June 2023.

This increase is attributed to several reasons, including the bank's offering of various certificates and savings instruments with record returns, surpassing most competitive products in the sector.

The bank introduced a savings certificate earlier this year with a record return of 25% upon maturity or 22.5% monthly payout.

Additionally, it released two fixed-return savings certificates for 3 years, one with a fixed annual return of 19% paid monthly and another with a decreasing return of 22% for the first year, 18% for the second year, and 16% for the third year, paid monthly.

The bank also introduced dollar-denominated savings certificates with interest rates of 7% and 9% for 3 years. The bank's total loan and customer facility portfolio increased to EGP 1.978 tn by the end of June last year, compared to EGP1.728 tn in 2022, marking an increase of about EGP 250 bn.

Total assets of the bank reached EGP4.9 tn by the end of June 2023, compared to EGP4.4 tn in 2022.

The bank expanded its branch network to 643 branches in June 2023, including 17 independent electronic service branches and 20 traditional branches equipped with electronic corners, adding 9 new branches during the current year.

Moreover, the bank added about 142 new ATMs during the first 6 months of this year, bringing the total number to 6,670 ATMs by the end of June 2023, achieving a growth rate of 2.17% on a semi-annual basis.

 The bank also increased the number of point-of-sale machines to more than 469,000 by the end of June 2023, compared to 403,000 by the end of 2022, with a growth rate of 16.38% on a semi-annual basis. For the complete list, click on "More."