Emirates NBD achieves Fastest Quarterly Growth in its assets in the last decade

Emirates NBD's assets portfolio grew significantly in 2023, jumping by 28.17% over the first 9M of last year. To move from EGP 100.9 bn by the end of 2022, to EGP 129 bn by the end of Q3 of 2023, with an estimated increase of about EGP 28 bn, achieving the fastest quarterly growth since the Bank’s entry into the Egyptian banking market in 2013.

In terms of growth rates in the last decade, the Bank achieved growth of about 14% during the first 9M of 2014 in its assets, while 28% and 19.8% during the same period in 2015 and 2016, respectively.

As for the growth rates achieved in the Bank’s assets portfolio during the first 9M of 2017, it recorded growth of about 17.80%, while it achieved growth of 9.7%, 5.7% and 15.7% during the same period of 2018, 2019, 2020, respectively.

It recorded 12.5% growth in its assets portfolio during the first 9M of 2021, while 12.6% growth during the same period in 2022.

Emirates NBD has been performing strongly since Amr El Shafei assumed the position of CEO and Managing Director. The bank's net profits rose by 200%, reaching EGP 2.6 bn during the first 9M of 2023, compared to EGP 852.6 mn during the same period in 2022.

Net interest income jumped to EGP 5.1 bn during the first 9M of 2023, compared to EGP 3.1 bn during the same period in 2022, with a growth of 68%, and an increase of about EGP 2.1 bn.

Net fees and commissions income rose by 132%, to EGP 826 mn during the first 9M of 2023, compared to EGP 356 mn during the same period in 2022.

Return on average assets (the bank's efficiency standard in investing assets) rose from 0.97% during the first 9M of 2022, to 2.21% during the same period from 2023.

The rate of return on average equity (the bank's efficiency standard in investing equity) also jumped to 26.58% during the first 9M of 2023, compared to 10.53% during the same period from 2022.

The Bank's total Customer loans rose to EGP 54.7 bn by Q3 of 2023, compared to EGP 46.4 bn by the end of 2022, with a growth rate of 17.8%, and an increase of EGP 8.3 bn.

His deposits portfolio rose by about 30%, registering EGP 110.7 bn by the end of September 2023, compared to EGP 85.2 bn by the end of 2022, with an increase of EGP 25.5 bn.