The highest in the sector, NBE continues its expansion policy and its resource employment rate jumps to 110%

NBE financial statements, which ended on December 31, 2023, revealed that the Bank continued its expansion policy of employing its resources over the past year. Its resource employment rate jumped to 109.84% by the end of 2023, compared to 104.76% by the end of 2022.

This indicator, launched by the Research Centre of First Bank, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.

The Bank's exceptional performance on the Index during 2023 is due to its optimistic expansion policy in the use of its traditional resources, enabling the Bank to employ all its traditional resources as well as adding other resources to both loans and financial investments.

The figures were clear evidence of this, with the National Bank of Egypt employing about EGP4.43 tn in both loans and financial investments, with EGP2.02 tn for financial investments and EGP2.41 tn for total customer loans, while the Bank's traditional resources recorded EGP4.03 tn by the end of 2023.

While it employed EGP3.61 tn in loans and financial investments, with EGP 1.88 tn for financial investments and EGP 1.73 tn pounds for total customer loans, the Bank's traditional resources recorded about EGP 3.44 tn by the end of 2022.

In terms of the distribution of traditional resources in NBE by the end of 2023, the value of the deposit portfolio was EGP 3.73 tn, while the value of equity was EGP 297.2 bn during the same period

The Bank's deposit employment rate increased to 64.47% by the end of 2023, compared to 53.68% by the end of 2022, while the deposit employment rate for financial investments recorded 54.11% by 2023.

NBE has been able to deservedly exceed the banking sector average, with the sector's employment index at about 96.57% by the end of 2023.