NBK Egypt’s net profit jumps by 120% during 2023, recording EGP 4.021 bn
First Bank
The latest financial results of National Bank of Kuwait Egypt, revealed an increase in the bank’s net profit, with a growth rate of 120%, to record EGP 4.021 bn during 2023, compared to EGP 1.826 bn during 2022.
Net interest income jumped from EGP 3.83 bn during 2022 to reach EGP 6.99 bn During 2023, with a growth rate of 82.5%.
Total customer loans increased by 38.5%, amounting to EGP 75.2 bn by end of 2023 compared to EGP 54.3 bn by the end of December 2022.
The bank’s total deposits grew by a rate of 25.3%, by 2023 End, reaching EGP 105.9bn by the end of December 2023, compared to EGP 84.5 bn by the end of 2022.
The return on average assets of the bank was 2% during 2023, compared to 3.4% during 2022, While return on average equity (ROE) rose to 30.7% during 2023, compared to 16.9% during 2022.
