NBE’s net profit records EGP 6.9 bn At Q1-2023

The financial statements of National Bank of Egypt 'NBE', released today on the bank's website, revealed an increase in the bank’s net profit worth EGP 6.587 bn during the first quarter of 2023, while NBE's Pre-taxes profits rose with a value of EGP 17.531 bn during the same period.

The bank's net interest income rose by 15.93%, with an increase of EGP 4.707 bn reaching EGP 34.262 bn during the first 3 months of 2023, compared to EGP 29.555 bn during the same period of 2022.

 The bank's net fees and commissions income also rose by 108.16%, reaching EGP 4.057 bn during the first quarter of 2023, compared to EGP 1.949 bn during the same period of 2022, an increase of EGP 2.11 bn

the total portfolio of customer loans and facilities increased by 7.3%, an increase of EGP126bn At Q1-2023, reaching EGP 1.855 tn by the end of March 2023, compared to EGP 1.729 tn by the end of December 2022.

Moreover, The bank’s total deposit portfolio increased by a growth rate of 4.9% during the first 3 Months of 2023, after the bank was able to increase its deposits by EGP 157.9 bn, recording EGP 3.380 bn at the end of March 2023, compared to EGP 3.222 tn at the end of December 2022.

Meanwhile, the bank’s asset portfolio increased by 6.2%, to reach EGP 4.642 tn at the end of March 2023, compared to EGP 4.371 tn at the end of 2022; an increase of EGP 271 bn.