Emirates NBD grows by 63% on FirstBank composite growth index During 2023

The separate financial statements of Emirates NBD- Egypt, which ended on December 31st of last year, revealed that the bank achieved a composite growth rate of 63% during 2023.

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, during 2023.

Emirates NBD managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 174%, reaching EGP 3.234bn during 2023, compared to EGP 1.181 bn during 2022.

Total customer loans was the second contributor to this growth, increasing by 29.44% during the last year, reaching EGP 60.1 bn by the end of December 2023, compared to EGP 46.4 bn by the end of December 2022, an increase of EGP 13.66 bn.

The bank's asset portfolio was the third contributor to the growth, rising by 26.93% and an increase of approximately EGP 27.18 bn during 2023, reaching EGP 128.1 bn by the end of December 2023, compared to EGP 100.9 bn by the end of December 2022.

In addition, customer deposits surged by 20.46% and an increase of EGP 17.44 bn during the last year, reaching EGP 102.7 bn by the end of December 2023, compared to EGP 85.2 bn by the end of December 2022.