A surge in NBE’s Loans-to-Deposit employment Ratio, reaching 64.47% by the end of 2023

NBE's separate financial statements for the year ended December 31, 2023 showed that Loans-to-Deposit employment Ratio rose to 64.47% by the end of 2023, compared to 53.68% by the end of 2022.

The bank was able to increase its customer deposits portfolio worth EGP 511.576 bn over the past year, reaching EGP 3.7 trillion by the end of 2023, compared to EGP 3.2 trillion by the end of 2022, with a growth of 15.88%.

NBE’s total customer loans portfolio jumped to EGP 2.4 trillion by the end of 2023, compared to EGP 1.7 trillion by the end of 2022, with a growth of 39.18% and an increase of EGP 677.511 bn.

Overall, the National Bank of Egypt did well over the past year, jumping its net profit by 104%, registering EGP 70.686 bn in 2023, compared to EGP 34.650 bn in the same period from 2022, with an increase of EGP 36.036 bn.

Net interest income rose to Pound 177.941 bn in 2023, compared to Pound 111.880 bn in 2022, with a growth of 59.05% and an increase of Pound 66.061 bn.

Net fees and commissions income rose by 39.72%, with an increase of EGP 5.118 bn, reaching EGP 18.004 bn in 2023, compared to EGP 12.886 bn.

The bank's asset portfolio rose to EGP 5.233 trillion by the end of 2023, compared to EGP 4.370 trillion by the end of 2022, with growth of 19.75% and an increase of EGP 863.345 bn.

The portfolio of corporate loans rose to EGP 2.115 trillion by the end of 2023, compared to EGP 1.502 trillion by the end of 2022, with growth of 40.80% and an increase of EGP 612.910 bn.

The bank's retail loans jumped by 28.45% over the past year, reaching EGP 291.708 bn by the end of 2023, compared with EGP 227.107 bn by the end of 2022, with an increase of EGP 64.601 bn.