NBK Egypt’s net profits grow by 96%, recording EGP 1.28 bn during Q1-2024
First Bank
The financial statements of NBK- Egypt, recently announced on the bank’s official website, reveal a 96.2% growth in its net profits, reaching EGP 1.28 bn during Q1-2024, compared to EGP 652.5 bn during the same period in Q1-2023, with an increase of EGP 627.4 bn.
The bank’s pre-tax income jumped by 77%, with an increase of EGP 817.5 mn, reaching EGP 1.88 bn during Q1-2024, compared to EGP 1.06 bn during the same period in 2023.
The bank’s deposit portfolio amounted to approximately EGP 126.7 bn, with an increase of EGP 20.8 bn during the first quarter of the current year, reaching EGP 126.7 bn by the end of March 2024, compared to EGP 105.9 bn by the end of December 2023.
Total portfolio of the bank’s assets increased by 19.1%, with an increase of EGP 25 bn during Q1-2024, reaching EGP 155.6 bn by the end of March 2024, compared to EGP 130.6 bn by the end of December 2023.
Total portfolio of customer loans and facilities increased by 13.3%, with an increase of approximately EGP 10.1 bn during Q1-2024, reaching EGP 86.1 bn by the end of March 2024, compared to EGP 76.1 bn by the end of December 2023.
