NBK-Egypt’s resource employment rate declines to 91.19% by the end of 2023
First Bank
NBK-Egypt's separate financial statements for the fiscal year ended December 31 revealed a marginal decline in the Bank's resource employment rate to 91.19% by the end of 2023, compared to 92.36% by the end of 2022.
This indicator, launched by the Research Centre of First Bank, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.
The slight decline in the Bank's resource employment rate in 2023 reflects a relatively conservative policy towards the employment of its resources during this period.
The Bank was able to employ EGP 110.2 bn from its traditional resources, which recorded EGP 120.8 bn by the end of 2023 in both loans and financial investments, with EGP 34.1 bn for financial investments, and EGP 76.1 bn for total customer loans.
While the Bank employs EGP 88.4 bn of its traditional resources, which recorded EGP 95.7 bn by the end of 2022 in loans and financial investments, with EGP 33.5 bn for financial investments, and EGP 54.95 bn for total customer loans.
With regard to the distribution of the traditional resources of the National Bank of Kuwait - Egypt at the end of 2023, the value of the deposits portfolio was EGP 105.9 bn, while equity was recorded at EGP 14.9 bn.
The Bank's deposits employment rate for loans rose sharply in 2023, jumping 71.8% by the end of 2023, compared to 65.1% by the end of 2022.
While the rate of deposit employment for financial investments fell to 32.2% by the end of 2023, compared to 39.6% by the end of 2022 The decline in the Bank's employment index in 2023 has increased its distance from the Egyptian banking sector average, with the banking sector's employment index registering about 96.57% by the end of 2023.
