Emirates NBD tops fastest growing banks in corporate direct loans during H1-2024
First Bank
Emirates NBD-Egypt leads First Bank's list of fastest growing Banks in direct loans during the first half of this year, after ranking 14th on the same list for the year 2023
Emirates NBD's direct loans rose by 42.78% during the first half of this year, exceeding EGP 19 bn by the end of June 2024, compared to EGP 13.3 bn by the end of 2023, with an increase of EGP 5.7 bn.
This contributed to the rise of the Bank's total corporate loans to EGP 55.9 bn by the end of June 2024, compared to 46 billion pounds by the end of 2023, with a growth of 21.58%, and an increase close to EGP 10 bn.
Overall, Emirates NBD achieved a strong performance during this year, rising its net profit by 33%, reaching EGP 2.6 bn in the first half of 2024, compared to EGP 1.9 bn in the same period from 2023
Net interest income rose by 61.80%, to EGP 5.2 bn during the first half of 2024, compared to EGP 3.2 bn for the same period in 2023.
Net fees and commissions income increased by 48.06%, to EGP 808.7 mn in the first half of this year, compared to EGP 546.2 mn in the same period from 2023.
The Bank's asset portfolio increased at a 11.82% rate during the first six months of this year, reaching EGP 143.3 bn by the end of June 2024, compared to EGP 128.1 bn by the end of the year 2023.
Customer deposit portfolio jumped from EGP 102.7 bn by the end of December 2023, to EGP 110.7 bn by the end of June 2024, with a growth of 7.9% and an increase of over EGP 8 bn.
Total customer loans amounting to 11.4 billion pounds, reaching EGP 71.5 bn by the end of the first half of 2024, compared to EGP 60 bn by the end of 2023, with a growth of 19% on a semi-annual basis
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