NBE's Loans to deposit ratio Jump to 61.02% By June-2023 End

The separate financial statements of National Bank of Egypt-NBE, which ended on June 31 2023, have revealed a significant increase in Loans to Deposit ratio at NBE, reaching 61.02% by the end of June 2023, compared to 53.68% in December 2022.

The bank was able to increase its customer deposit portfolio by EGP 222.8 bn, recording EGP 3.4 tn at the end of June 2023, compared to EGP3.2 tn by the end of 2022, achieving a growth rate of 6.92%.

The Bank's Total customer loans jumped by EGP 372.5 bn, to record EGP 2.1 tn by the end of June 2022, compared to EGP 1.7 tn by end of 2022, with a growth rate of 21.54%.

Overall, the National Bank of Egypt witnessed a strong performance over the past year, as its net profit reaching EGP 24.7 bn At H1-2023 compared to EGP14.1 bn in the same period in 2022, With growth rate of 75.45%.

The bank's net interest income jumps by 70.8%, reaching EGP 78.4 bn by during H1- 2023, compared to EGP 45.9 bn At the same period in 2022, an increase of EGP 32.48 bn.

The bank's net fees and commissions income also rose by 59.14%, reaching EGP 8.2 bn by during H1- 2023, compared to EGP 5.1 At the same period in 2022.

The Bank's Total assets recorded around EGP 4.78 tn by June 2023 End, compared to EGP 4.4 tn by the end of December 2022, achieving an increase of EGP 413.7 bn.

The bank’s Financial Investments grew by a rate of 11.45%, with an increase of EGP 215.3 bn by 2023End, reaching EGP 2.1 tn by the end of June 2023, compared to EGP 1.9 bn by the end of 2022.