Egypt’s National Bank net profits hit EGP 11.655 bn in Q1 of 2022

The National Bank of Egypt (NBE), the country’s largest bank says it has achieved net profits of 11.655 billion pounds at the end of March 2022, compared to 9.573 billion pounds from July 2020 to March 2021, according to financial statement revealed.

The profits before income taxes also increased to 19.340 billion pounds by the end first quarter of the year compared to from 26.505 billion pounds in nine months from July 2020 to March 2021.

The net income from return recorded about 29.555 billion pounds at the end of March 2022, compared to 36.438 billion pounds from July 2020 to March 2021.

NBE’s loans and facilities rose by 1.276 trillion Egyptian pounds in the end first quarter in the year, compared to 1.127 trillion pounds at the end of December 2021.

Its total assets hit 3.33 trillion Egyptian pounds ($169 billion) in the end first quarter of the year, up from 3.233 trillion pounds at the end of December 2021.