NBE grows by 44.70% on First Bank Composite Growth Index during 2023

The separate financial statements of National Bank of Egypt, which ended on December 30, 2023, revealed that NBE recorded a compound growth rate of 44.70% during 2023.

This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure, in all branches of activity that include net profits, deposit, loan, and asset portfolios, during the period from January to December 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 104% to record EGP 70.686 bn during 2023 compared to EGP 34.650 Bn during 2022.

In addition, Total customer loans came in second place, recording EGP 2.4 tn by December - 2023end, compared to EGP 1.7 tn at the end of 2022, achieving a growth rate of 39.18%, and an increase of EGP 677.511 bn.

Furthermore, the bank's total Assets came in third place with a growth rate of 19.75% during 2023, bringing the total portfolio from EGP 4.370 tn at the end of December 2022 to reach EGP 5.233 bn by December - 2023end, achieving an increase of EGP 863.345 bn.

The bank's customer deposit portfolio achieved a growth rate of 15.88% in 2023, to record EGP 3.733tn by the end of December 2023, compared to EGP 3.221 tn by the end of 2022، with an increase of EGP 511.576 bn.