The highest in the sector, NBE continues its expansion policy and its resource employment rate jumps to 115.21%

The National Bank of Egypt (NBE) continued its highly optimistic expansion policy during this year, as reflected in the significant jump in its resource employment rate, rising to 115.21% by the end of June 2024, compared to 109.88% by the end of 2023.

This indicator, launched by the First Bank Research Centre, measures the employment rate of traditional resources (deposits + equity), in (loans + financial investments) of banks operating in the Egyptian banking sector.

The significant jump in this indicator during the first half of 2024 reflects the adoption of a policy of optimism towards the use of its resources during this period, which prompted it to employ all its traditional resources in the areas of loans and financial investments and to add to them from other resources.

The Bank employed 5.494 trillion pounds in loans and financial investments by the end of the first half of 2024, amounting to 3.272 trillion pounds for total customer loans, and 2.222 trillion pounds for total financial investments, while its traditional resources recorded 4.768 trillion pounds by the end of the same period.

It employed around 4.428 trillion pounds in both loans and financial investments of 2.021 trillion pounds for financial investments and 2.406 trillion pounds for total customer loans, while the bank's traditional resources recorded 4.030 trillion pounds by the end of 2023.

With regard to NBE's traditional resources at the end of the second quarter of 2024, it was distributed between Pound4.294 trillion the value of the deposit portfolio and Pound474.212 billion the value of equity by the end of the same period.

The Bank's deposit employment rate for loans jumped to 76.19% by the end of the first half of 2024, compared to 64.47% by the end of 2023, and the deposit employment rate for financial investments rose to 51.74% by the end of June, compared to 54.15% by the end of the same period.

The significant jump in the NBE employment index of 115.21% by the end of the second quarter of 2024 reflects the Bank's fully optimistic policy towards loans and financial investments, surpassing the average banking sector of 93.86% by the end of the same period.