NBE's corporate deposits jump by 35.4% during 2023, recording EGP 1.19 tn

The separate financial statements of National Bank of Egypt-NBE, which ended on December 31 2023, revealed an increase in the corporate deposit portfolio at a growth rate of 35.37% and an increase of EGP 311 bn during the last year.

The Bank's corporate deposit portfolio was about EGP 1.19 tn at the end of December 2023, compared to EGP 878.30 tn at the end of December 2022.

The volume of the Bank's retail deposits rose by 8.57% and an increase of EGP 201 bn during the last year, reaching EGP 2.54 tn by the end of 2023, compared to EGP 2.34 tn by the end of December 2022.

As a result, the Bank's deposit portfolio increased by 15.88% and an increase of EGP 511 bn during the last year, reaching EGP 3.73 tn by the end of 2023, compared to EGP 3.22 tn by the end of December 2022.

The demand deposits portfolio rose by 31% and increased by EGP 187 bn during the last year, reaching EGP 790.85 bn by the end of 2023, compared to EGP 603.90 bn by the end of December 2022.

The portfolio of Time Deposits jumped by 16.53% an increase of EGP 37.83 bn during the last year, registering EGP 266.65 bn by the end of 2023, compared to EGP 228.83 bn by the end of December 2022.

Saving deposits portfolio also recorded a growth of 16.35% and an increase of EGP46.9bn during the last year, reaching EGP 1334.15 bn by the end of December 2023, compared to EGP 287.21 bn by the end of December 2022.