Emirates NBD’s customer deposits portfolio rose by 155% in 5 years
First Bank
Emirates NBD's separate financial statements revealed that its customer deposits portfolio rose by 154.98% over the past five years, reaching EGP 106.7 bn by the end of March 2024, compared to EGP 41.9 bn by the end of 2023, with an increase of EGP 64.9 bn.
Tracking its journey during the period under analysis, the highest growth rate, and the largest increase value, was seen in the portfolio in 2021 as the portfolio jumped by 40.17%, reaching EGP 67.6 bn by the end of the year, compared to EGP 48.2 bn by the end of 2020, with an increase of EGP 19.4 bn.
The second highest growth rate and the second largest increase in the portfolio was in 2022, with customer deposits rising by EGP 17.6 bn, reaching EGP 85.2 bn by the end of 2022, compared to EGP 67.6 bn by the end of 2021, with growth of 26.10%.
In terms of portfolio performance this year, it rose by about 4% in the first quarter of this year, to EGP 106.7 bn by the end of March 2024, compared to EGP 102.7 bn by the end of 2023, with an increase of EGP 4.1 bn.
The Bank's deposit market trends are controlled by corporates, accounting for 66.68% of the Bank's total deposits by the end of March 2024, compared to 60% by the end of 2018.
While retail deposits accounted for 33.32% of the Bank's total customer deposits portfolio by the end of the first quarter of this year, compared to 40% by the end of 2018.
Retail deposits of Emirates NBD rose by 112.42%, recording EGP 35.6 bn by the end of March 2024, compared to EGP 16.7 bn by the end of 2018, with an increase of EGP 18.8 bn.
Corporate deposits portfolio rose from EGP 25.1 bn by the end of 2018, to EGP 71.2 bn by the end of March 2024, with a growth rate of 183.35%, and an increase of over EGP 46 bn.
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