Emirates NBD-Egypt rose its resource employment rate to 90.45% under Amr ElShafei’s leadership

Emirates NBD-Egypt successfully increased its resource employment rate over the past year, jumping to 90.45% by the end of 2023, compared to 79.59% 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.

This Significant performance, achieved by the Bank on the Index in 2023, is due to an expansion policy of Emirates NBD-Egypt in the use of its resources to support its financial results within the Egyptian banking market.

This was reflected in the Bank's figures, employing EGP 103.3 bn from its traditional resources, which recorded EGP 114.3 bn by the end of 2023 in both loans and financial investments, amounting to EGP 43.3 bn for financial investments, and EGP 60.1 bn for total customer loans.

While employing EGP 74.6 bn of its traditional resources, which recorded EGP 93.7 bn by the end of 2022 in loan and financial investment, with EGP 28.2 bn for financial investments, and EGP 46.4 bn for total customer loans.

At the end of 2023, Emirates NBD's traditional resources distributed between EGP 102.7 bn in deposits portfolio and 11.6 bn in equity by the end of the same period.

The Bank's deposit employment rate for granting loans increased to 58.51% by 2023, compared to 54.45% by 2022.

Deposit employment rate for financial investments rose to 42.16% by the end of 2023, compared to 33.09% by the end of 2022.

Although the Bank's resource employment rate rose in 2023, it remained below the Egyptian banking sector average, which recorded 96.57% by the end of 2023.

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