NBK- Egypt grows by 37.3% on First Bank composite growth index during 9M- 2023

The financial statements of National Bank of Kuwait- Egypt "NBK-Egypt", ending on September 30th of the current year, revealed that the bank achieved a composite growth rate of 37.3% during the first 9M- 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 September 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 100%, reaching EGP 2.574 bn during the first 9 months of 2023, compared to EGP 1.288 mn in the same period in 2022, an increase of EGP 1.286 bn.

Total loan portfolio and credit facilities at the bank were the second contributor to this growth, increasing by a growth rate of 25% during the first 9M of the current year, reaching EGP 68.57 bn by the end of September 2023, compared to EGP54.95 bn at the end of December 2022, an increase of EGP 13.62 bn

The size of Asset portfolio was the third contributor to the growth of NBK- Egypt, with a growth rate of 12.34% and an increase of approximately EGP 12.97 bn during the first 9 months of the current year, to record EGP 118.11 bn by the end of September 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 12.16% during the first 9M of the current year, reaching EGP 94.72 bn by the end of September 2023, compared to EGP 84.5 bn at the end of December 2022, with an increase of EGP 10.27 bn.