NBE approaches acquisition of half of banking sector loans

NBE's market share in the loan market saw record growth under Hisham Okasha, the bank's former chairman, jumping to 45.53% of total banking sector loans by the end of 2023, compared to 20.92% by the end of June 2013.

During this period, National Bank of Egypt's loan portfolio rose to 2.4 trillion pounds by the end of 2023, compared to 113.996 billion pounds by the end of June 2013.

This dramatic increase reflects the Bank's ability to strengthen its position as a key player in the Egyptian banking sector, supported by innovative policies and strategic plans aimed at improving banking services and supporting economic projects.

It also highlights the Bank's role in digital expansion, automating banking operations and providing flexible and easy electronic services and products, available through alternative channels such as the mobile banking app, making it easier for customers to manage their accounts smoothly.

In addition, NBE supported the initiatives of the Central Bank of Egypt, particularly in areas such as the low and middle-income homebuyers Finance Initiative, which aims to provide affordable and adequate housing, and the Natural Gas Automotive Replacement Initiative, which helped reduce the cost to citizens and promote environmental sustainability.

In addition to its huge geographical expansion, the number of branches reached 665 in June 2024, including 17 independent electronic service branches and 21 traditional branches with an electronic department.

The number of branches equipped to deal with people of determination has also registered about 83 branches with the creation of distinctive signs for branches that provide service with constant pursuit and attention to segments of customers of determination through the operation of slopes for the external entrance of the branch electronic elevators, telegram nets and low-rise ATMs Training most branches of our bank to deal with customers through sign language, providing translated application forms in Braille.

In addition to owning a large number of ATM machines, it reached 6786 in June 2024, and the number of POS machines reached about 588 thousand by the end of the same period.

In turn, it has contributed to improving customer experience and increasing operational efficiency, as well as benefiting from the stability of economic policies in Egypt over the past period, which has contributed to enhancing confidence in the banking sector, and has succeeded in attracting a giant segment of borrowers to it that is now approaching half the market share of the banking sector.

This puts a huge pressure on other 35 competing banks, as they become compelled to provide innovative services and improve their digital experience to maintain their market share and not decline, especially as more substantial increases are also expected under Mohamed El-Etreby, the bank's new CEO

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