NBE records fastest quarterly growth in its assets for the last 5 years, with 30% growth in H1-2024

National Bank of Egypt has a strong financial position that reflects its stability and leadership in the banking sector, and has achieved a record growth rate of 30% in its asset portfolio during the first half of this year, thereby registering the fastest quarterly growth in the last 5 years.

This followed the rise of the Bank's asset portfolio to EGP 6.80 trillion by the end of June 2024, compared to EGP 5.23 trillion by the end of December 2023, with an increase of EGP 1.57 trillion, to maintain its absolute export of the list of the largest banks in the market share of assets, accounting for more than one third of banking assets with a 35.17% share by the end of June 2024

Highlighting the growth rates achieved over the past years, the Bank grew its asset volume by 9.47% in the first half of 2023, and its portfolio volume increased by 13.11% in the first half of 2022, while rising by 15.13% and 14.09% respectively during the same period in 2021 and 2020.

Turning to the overall performance of the Bank, we find that it managed to achieve 36% growth in its total portfolio of loans during the first half of this year, rising to EGP 3.27 trillion by the end of June 2024, compared to 2.41 trillion by the end of December 2023, marking an increase of EGP 861 bn.

Its total deposit portfolio rose by 15.2% and an increase of EGP 567 bn during the first half of this year, after registering EGP 4.30 trillion by the end of June 2024, compared to 3.73 trillion by the end of December 2023.