Emirates NBD's customer deposits portfolio jumps by 164.57% in 5 years
First Bank
Emirates NBD's separate financial statements revealed that the bank's customer deposit portfolio has risen by 164.57% over the past five years. It jumped from EGP 41.9 bn by the end of 2018, to EGP 110.74 bn by the end of June 2024, with an increase of EGP 68.9 bn, reflecting financial stability and strength in attracting resources from the market, It gives a positive indicator of customer confidence in the bank, whether individuals or corporates.
Tracking its journey during the period under analysis, the highest growth rate, and the largest increase value, was seen in the portfolio in 2021, where the portfolio jumped by 40.2%, 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 Bank's portfolio of customer deposits jumped to EGP 85.2 bn by the end of December 2022, compared to EGP 67.6 bn by the end of 2021, with a growth of 26 .10% and an increase of EGP 17.6 bn.
As for the growth of the customer deposit portfolio during the year, it jumped by 7.9%, reaching EGP 110.7 bn by the end of June 2024, compared to EGP 102.7 bn by the end of 2023, with an increase of more than EGP 8 bn.
In terms of the Bank's deposit market trends, there has been a slight shift in the customer base structure, with the proportion of corporate deposits from the Bank's total deposits to the expense of retail deposits over the past five years.
Corporate deposits controlled 64.67% of the bank's total deposits by the end of June 2024, compared to 60% by the end of 2018, reflecting the Emirates NBD strategy's focus on attracting deposits from major corporates, which are usually a more stable source of financing.
While retail deposits took 35.33% of the Bank's total customer deposit portfolio by the second quarter of 2024, compared to 40% by the end of 2018
Retail deposits at Emirates NBD rose by 133.66%, reaching EGP 39.1 bn by the first half of 2024, compared to EGP 16.7 bn by the end of 2018, with an increase of EGP 22.4 bn.
The corporate deposit portfolio rose from EGP 25.1 bn by the end of 2018, to EGP 71.6 bn by the end of June 2024, with a growth of 185.18% and an increase of EGP 46.5 bn.
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