Emirates NBD customer deposits grow by 20.5%, reaching EGP 102.7 bn during 2023

The financial statements of Emirates NBD-Egypt, revealed a growth in the customer deposit portfolio by approximately 20.5%, with an increase of EGP17.44bn during the last year.

The portfolio of customer deposits at the bank reached EGP 102.65 bn, by the end of December 2023, compared to EGP 85.22bn by the end of December 2022.

Corporate deposits portfolio grew by 24.10%, reaching a value of EGP72.32 bn, an increase of EGP 14.04 bn by the end of December 2023, compared to EGP 58.27 bn by the end of December 2022.

The total portfolio of retail deposits increased by 12.59% during the last year, rising from EGP 26.95bn at the end of December 2022 to reach EGP 30.34 bn by the end of December 2023.

Examining the components of the customer deposits portfolio, “demand deposits” surged by 19.21% with an increase of EGP 7.19 bn during the last year, reaching approximately EGP 39.02 bn by the end of December 2023, compared to EGP 37.41 bn by the end of December 2022.

The size of the “time and notice deposits” portfolio Jumps by 35.92%, registering an increase of EGP 10.31 bn during the last year, reaching 39.02 bn by the end of December 2023, compared to EGP 28.70 bn by the end of December 2022.

The portfolio of “savings certificates” grew by 0.59%, registering an increase of EGP 83 mn during 2023, reaching EGP 14.24 bn by the end of December 2023, compared to EGP 14.16 bn by the end of December 2022.