The first in the Egyptian market, Emirates NBD tops fastest-growing banks in net profits
First Bank
Emirates NBD - Egypt achieved record growth in its net profits over the past year, jumping its net profits to EGP 3.24 bn in 2023, compared to EGP 1.2 bn in 2022, with a growth rate of 174%, driven by the efforts of Amr ElShafei, the bank's chief executive officer and managing director, and his team. After achieving this record growth, the bank was able to take the first position on the list of fastest growing banks in net profits at the level of the Egyptian market, and you can see the list in full from here
The significant profits achieved by the Bank in 2023 contributed to increasing the value of the main share in the Bank's profits in 2023 to EGP 59.05 per share, compared to EGP 21.88 per share in 2022, with a growth of 169.9% and an increase of EGP 37.17 per share.
Net interest income rose by 69%, to record EGP 7.3 bn in 2023, compared to EGP 4.3 bn in 2022, with an increase of EGP 3 bn.
Net fees and commissions income rose by 110% over the past year, reaching EGP 1.1 bn in 2023, compared to EGP 534.1 mn in 2022.
Emirates NBD - Egypt has exceptional performance over the past year, with the bank's assets rising by 27% over the past year, to record EGP 128.1 bn by the end of December 2023, compared to EGP 100.9 bn by the end of December 2022, with an increase of EGP 27.2 bn.
Customer deposit portfolio rose by 20%, reaching EGP 102.7 bn by the end of December 2023, compared to EGP 85.2 bn by the end of December 2022, with an estimated increase of EGP 17.5 bn.
Its total customer loans jumped by EGP 13.7 bn, reaching EGP 60.1 bn by the end of 2023, compared to EGP 46.4 bn by the end of 2022.
Retail loans rose by 12.8% in 2023, reaching EGP 14.1 bn by the end of last year, compared to EGP 12.5 bn by the end of 2022.
The bank's corporate loans jumped by 36% over the past year, reaching EGP 46 bn by the end of 2023, compared to EGP 33.9 bn by the end of 2022.
