Emirates NBD’s loans to deposit ratio increased to 61% by March 2024end

The separate financial statements of Emirates NBD -Egypt, ending on March 31 of the current year, revealed an increase in loans to deposits ratio, recording 60.97% by the end of March 2024, compared to 58.51% by the end of December 2023.

The bank witnessed good performance in its key indicators, The Bank's deposit portfolio increased by 4%, an increase of EGP 4.08bn in the first 3 months of the current year, totaling EGP 106.73 bn by the end of March 2024, compared to EGP 102.66 bn by the end of December 2023.

The bank increased credit issuance to its customers by approximately EGP5.01bn during the first quarter of the current year, Total financing and facilitation for customers reaching EGP 65.08 bn by the end of March 2024, compared to EGP 60.07 bn by the end of December 2023.

On the financial position front, the bank achieved a growth rate of 7.20%, with an increase of EGP 9.23bn during the first 3 months of the current year, recording total assets around EGP 137.35 bn by the end of March 2024, compared to EGP 128.12 bn by the end of December 2023.

Emirates NBD’s net profits surged by 13.34%, with an increase of EGP128.7mn, registering EGP 1.093 bn during Q1- 2024, compared to EGP 964.7 mn during the same period of 2023.