NBE continues to top the deposit market in Egypt with a 35.86% market share by the end of June 2024

The National Bank of Egypt continued to top the list of "First Bank" to the largest banks operating in the Egyptian banking sector in terms of the size of the market shares of the deposit portfolio by a significant margin from even its closest competitors, continuing its quarter on the top of the Egyptian banking sector.

The National Bank of Egypt (NBE) leads the list of "First Bank" to the largest banks in the market shares of the customer deposit portfolio by the end of June, with a market share of 35.86% of the total banking sector deposits by the end of the first half of 2024. NBE's share exceeds one third of all banking sector deposits.

This significant increase is a consequence of its great success in jumping its portfolio of customer deposits to EGP 4.3 tn in June 2024, compared to EGP 3.7 tn in December 2023, with a growth of 16.22% on a semi-annual basis.

The Bank's leading the Deposit Market in Egypt comes for several reasons, most notably its continued interest in providing deposits with exceptional returns, often outperforming the revenues offered in competing products in the sector.

In addition, it provides great confidence among Egyptians, which is constantly increasing thanks to its outstanding performance and professionally trained team.

Overall, NBE has achieved a strong performance during this year, enhancing its branch network to 665 branches in June 2024 including 17 independent electronic service branches and 21 traditional branches with an electronic department.

It also added 76 new ATMs during the first six months of this year, bringing the total number of ATMs to 6,786 by the end of June, compared to 6,710 by the end of 2023.

The number of branches equipped to deal with people of determination is about 83 with the creation of distinctive banners 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 the majority of its branches to deal with customers through sign language, providing translated application forms in Braille. The number of POS rose from 523 thousand by the end of December 2023, to 588 thousand by the end of June 2024.

At the bank's main portfolios level, its assets portfolio rose to EGP 6.8 tn by the end of June 2024, compared to EGP 5.2 tn in December 2023, with growth of 30.77% and an increase of EGP 1.6 tn.

Total customer loans and facilities rose by 35.77% in the first half of this year, reaching EGP 3.268 tn by the end of June 2024, compared to EGP 2.407 tn by the end of 2023, with an increase of EGP 861 bn.

The large corporate loan portfolio jumped to EGP 2.777 tn by the end of June 2024, compared to EGP 1.956 tn in December 2023, with growth of 44% on a semi-annual basis.

The portfolio of SMEs' loans rose to EGP 170 bn by the end of June 2024, compared to EGP157 bn in December 2023.

The retail loan portfolio rose to EGP 321 bn by the end of June 2024, compared to EGP 292 bn in December 2023, with growth of 9.93% on a semi-annual basis.

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