Emirates NBD's retail loans grow by 13%, reaching EGP 14 bn during 2023
First Bank
The financial statements of Emirates NBD, for the period ending on December 31 of the last year, have revealed a growth in the bank's portfolio of retail loans by a rate of 12.74% during 2023, amounting to an increase of EGP 1.59 Bn.
The size of the bank's portfolio of Retail loans reached EGP 14.09 bn by the end of December 2023, compared to EGP 12.50 bn by the end of December 2022, accounting for 23.45% of the total loans by end of 2023.
Contributing to this growth, the size of the bank's credit cards increased by 70%, with an increase of EGP 388 mn during the last year, moving from EGP 556 bn by the end of December 2022, to reach EGP 944bn by the end of December 2023.
Emirates NBD's personal loans rose by 9% and witnessed an increase of EGP 933 mn during the last year to record EGP 11.81bn by the end of December 2023, compared to EGP 10.87bn by the end of December 2022.
It is worth noting that the total customer loan portfolio Jumped by 29.44% and an increase of EGP 13.66 bn during last year, reaching EGP 60.07 bn by the end of December 2023, compared to EGP 46.40bn by the end of December 2022.
