NBE’s Customer Deposit Portfolio jumps to 230% in 5 years
Mai El-Kafoury
National Bank Egypt’s customer deposit portfolio recorded strong growth over the past 5 years, jumping by 230.35%, reaching EGP 3.58 tn by the end of Q3 of 2023, compared to EGP 1.1 tn by the end of 2018.
The record increases in the volume of NBE customer deposits of about EGP 2.5 tn during the period under analysis have increased its market share tremendously, rising to 36.61% of total banking sector deposits by the end of September 2023, compared to 28.41% by the end of 2018.
Monitoring its journey over the period under analysis, the highest growth rate of the portfolio in 2020, rising by about 39.95% year-on-year, to EGP 1.8 tn by the end of the year, compared to EGP 1.3 tn by the end of 2018, with an increase of EGP 524.7 bn.
While 2022 was the highest in value, the Bank's customer deposit portfolio jumped by EGP 835.2 bn, to EGP 3.2 tn by the end of the year, compared to EGP 2.4 tn by the end of 2021, with growth of 35% year-on-year.
As for last year's portfolio performance, it rose by 11.22%, from EGP 3.2 tn by the end of 2022, to EGP 3.58 tn by the end of September 2023, with an increase of EGP 361.6 bn.
The Bank's deposit market directions are controlled by retail, accounting for 69.51% of the Bank's total deposits by the end of September 2023, compared to 77.30% by the end of 2018.
Corporate deposits accounted for 30.49% of the Bank's total customer deposit portfolio by the end of Q3 of 2023, compared to 22.70% by the end of 2018.
It should be noted that the Bank's retail deposit portfolio jumped to EGP 2.5 tn by the end of September 2023, compared to EGP 838.5 bn by the end of 2018, with a growth of 197 .06% and an increase of EGP 1.7 tn.
The corporate deposit portfolio rose by 343.76% during the period under analysis to register EGP 1.1 tn by the end of September 2023, compared to EGP 246.2 bn by the end of 2018.
