The National Bank of Egypt NBE, the countrys largest public lender, recorded a composite growth rate of 25.66%

Analysis

Egypt’s NBE grows 25.66% on First Bank’s composite growth index during H1-22

12/13/2022 9:57:56 PM

The National Bank of Egypt (NBE), the country’s largest public lender, recorded a composite growth rate of 25.66% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio during the first 6 months of 2022.

This rate was measured through a composite growth index developed by First Bank to identify the financial performance of banks with a single figure during 9M-22.

NBE was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profits that recorded a growth rate of 54.96%

The Bank’s net profit recorded EGP 14.103 billion during the first 6 months of 2022, compared to EGP 9.043 billion during the same period of 2021.

In addition, the bank's loans and facilities to customers jumped by 18.86% to record EGP 1.393 trillion at first half of 2022, compared to EGP 1.172 trillion at the end of December2 2021 with an increase of EGP 221 billion.

The assets portfolio jumped by 13.118% to stand at 3.65 trillion pounds on the first half of 2020, compared to EGP 3.234 trillion by the end of December 2021 with an increase of EGP14.3 billion.

However, the deposit portfolio seen a growth of 15.72% standing at EGP2.7 trillion at H1-22, compared to EGP 2.3 trillion at the end of 2021 with an increase of 375 billion pounds.