NBE customer deposits grow by 11.2%, reaching EGP 3.58 tn At 9M-2023

The financial statements of National Bank of Egypt -NBE, released today on the bank's website, revealed a growth in the customer deposit portfolio by approximately 11.22%, with an increase of EGP361.6bn during the first 9 months of 2023.

The portfolio of customer deposits at the bank reached EGP 3.583 tn, by the end of September 2023, compared to EGP 3.222 tn by the end of December 2022.

Corporate deposits portfolio grew by 24.4%, reaching a value of EGP1.092 tn, an increase of EGP 214.1 bn by the end of September 2023, compared to EGP 878.3 bn by the end of December 2022.

The total portfolio of retail deposits increased by 6.30% during the first 9 months of the last year, rising from EGP 2.343 tn at the end of December 2022 to reach EGP 2.491 tn by the end of September 2023.

Examining the components of the customer deposits portfolio, “demand deposits” surged by 5.52% with an increase of EGP 32.5 bn during the first 9 months of the last year, reaching approximately EGP 621.1 bn by the end of September 2023, compared to EGP 588.6 bn by the end of December 2022.

Additionally, the size of “saving deposits” portfolio Jumps by 10.01%, registering an increase of EGP 28.7 bn during the first 9 months of 2023, reaching EGP 316 bn by the end of September 2023, compared to EGP 287.8 bn by the end of December 2022.

The size of the “time and notice deposits” portfolio Jumps by 39.02%, registering an increase of EGP 89.3 bn during the first 9 months of 2023, reaching EGP 318.1 bn by the end of September 2023, compared to EGP 228.8 bn by the end of December 2022.