Emirates NBD customer deposits grow by 30%, recording EGP 110.7 bn At 9M-2023
First Bank
The financial statements of the Emirates NBD Egypt, ending on September 30th of the current year revealed a growth in the customer deposit portfolio by approximately 30%, with an increase of EGP25.48bn during the first 9 months of 2023.
The portfolio of customer deposits at the bank reached about EGP 110.70 bn by the end of September 2023, compared to EGP 85.22 bn by the end of December 2022.
Corporate deposits portfolio grew by 40.76% an increase of EGP 23.75bn during the first 9 months of the current year, reaching a value of EGP 82.02 bn by the end of September 2023, compared to EGP 58.27 bn by the end of December 2022.
The total portfolio of retail deposits increased by 6.4% during the first 9 months of the current year, rising from EGP 26.95 bn at the end of December 2022 to reach EGP 28.67 bn by the end of September 2023. an increase of EGP 1.73bn.
Examining the components of the customer deposits portfolio, “on-demand deposits” surged by 5.2% with an increase of EGP 1.93 bn during the first 9 months of the current year, reaching approximately EGP 39.34 bn by the end of September 2023, compared to EGP 37.41 bn by the end of December 2022.
Additionally, the size of the “term and notice deposits” portfolio increased by 82.7%, registering an increase of EGP 23.74 bn during the first 9 months of the current year, reaching EGP 52.44 bn by the end of September 2023, compared to EGP 28.71 bn by the end of December 2022.
