NBE’s net profits jump by 120% during 9M-2023, recording EGP 50 bn

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 120% to record EGP 50.009 bn during the first 9 months of 2023, compared to EGP 22.778 bn during the same period of 2022., an increase of EGP 27.23 bn.

The bank's pre-tax profit also witnessed a growth of 83.4%, amounting to an increase of EGP 40.52bn, recording EGP 89.10bn during the first 9 months of 2023, compared to EGP 48.59 bn during the same period of 2022.

The bank's net interest income rose by 82.2%, with an increase of EGP 56.85 bn reaching EGP 126.025 bn during the first 9 months of 2023, compared to EGP 69.173 bn during the same period of 2022.

The bank's net fees and commissions income rose by 50.3%, reaching EGP 12.943 bn during the first 9M- 2023, compared to EGP 8.614 bn during the same period of 2022, an increase of EGP 4.33 bn.

In addition, The bank’s asset portfolio increased by 15%, to reach EGP 5.016 tn at the end of September 2023, compared to EGP 4.371 tn at the end of 2022; an increase of EGP 646.3 bn.

Moreover, The bank’s paid-up capital increased by a growth rate of 50% during the first 9 Months of 2023, an increase of EGP 25 bn, recording EGP 75 bn at the end of September 2023, compared to EGP 50 bn at the end of December 2022.

In addition, the bank’s shareholder's Equity increased by 21.12%, to reach EGP 270.2 bn at the end of September 2023, compared to EGP 223.1 bn at the end of 2022; an increase of EGP 47.11 bn.

Total Financial Investments increased by 8.29%, and an increase of EGP 155.8 bn during 9M -2023, reaching EGP 2.035 tn by the end of September 2023, compared to EGP 1.879 tn by the end of December 2022.