NBK Egypt growth slow-down to 24.7% during Q3-2023

NBK Egypt's growth slow-down during the third quarter of 2023, recording a compound growth rate of 24.71%, compared to 36.59% during Q2-2023.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q3-2023.

NBK Egypt was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) led by net profit which formulated First Bank composite growth index, recorded a growth rate of 89.81% during Q3-2023.

Total loans and facilities to customers portfolio contributed to this growth, with a growth rate of 0.79% during the third quarter of the current year, while the total assets and deposits portfolios increased by growth rates of 2.90% and 5.35% respectively during the period from July to September 2023.

As for the Q2 -2023, net profits were also the most impactful factor in the growth of the composite First Bank index, as the bank achieved a growth rate of 123.82% in its net profits during the period from April to June 2023.

Total customer loans at the bank ranked second in contributing to this growth with a rate of 15.70% during the Second quarter of 2023, while the size of the bank's Assets and deposit portfolios increased by growth rates of 5.01% and 1.84% respectively during the same period.

It should be noted that all figures and growth rates mentioned above, are according to financial statements published on the bank’s official website.