NBE’s net profits grow by 75% during H1-2023, recording EGP 24.7 bn
First Bank
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 with a growth rate of 75.4% to record EGP 24.744 bn during the first Half of 2023, compared to EGP 14.10 bn during the same period of 2022.
The bank's net interest income rose by 70.8%, with an increase of EGP 32.48 bn reaching EGP 78.36 bn during the first 6 months of 2023, compared to EGP 45.883 bn during the same period of 2022.
The bank's net fees and commissions income also rose by 49.1%, reaching EGP 8.19 bn during the first Half of 2023, compared to EGP 5.14 bn during the same period of 2022, an increase of EGP 3.04 bn
the total portfolio of customer loans and facilities to customers increased by 21.5%, an increase of EGP 372 bn At H1-2023, reaching EGP 2.10 tn by the end of June 2023, compared to EGP 1.729 tn by the end of December 2022.
Moreover, The bank’s total deposit portfolio rose by 3.44% during the first 6 Months of 2023, after the bank was able to increase its deposits by EGP 223 bn, recording EGP 3.444 tn at the end of June 2023, compared to EGP 3.222 tn at the end of December 2022.
In addition, The bank’s asset portfolio increased by 9.5%, to reach EGP 4.75 tn at the end of June 2023, compared to EGP 4.371 tn at the end of 2022; an increase of EGP 414 bn.
