National Bank of Egypt
Egypt banks
Its loan portfolio amounted to 1.97 trillion pounds by the end of June 2023
Cairo – Al Arabiya.net
Posted on: August 22, 2023: 08:00 PM GST Last updated: August 22, 2023: 09:04 PM GST
The results of the National Bank of Egypt’s business revealed that profits before taxes amounted to about 71 billion pounds during the past year. While it achieved a net profit of 35 billion pounds, after paying about 36 billion pounds in taxes to the state treasury.
The total financial position of the bank amounted to about 4.4 trillion pounds in December 2022 compared to about 3.2 trillion pounds in December 2021, reaching about 4.9 trillion pounds by the end of June 2023. Property rights also increased in December 2022 by about 41 billion pounds compared to December 2021, to record 223 billion pounds.
In the framework of spreading financial inclusion and enhancing digital banking services, about 0.8 million new customers were attracted in the field of internet banking through the “Al Ahly Net” service, bringing the total number of customers subscribing to the service since its launch to 7 million customers in December 2022, compared to 6.2 million customers in December 2021.
The number of subscribers to the Fone Cash wallet also increased, reaching 1.5 million customers in December 2022, with an increase of about 293 thousand new customers who activated the service during the year, to continue growing to reach about 1.6 million wallets by the end of June 2023, benefiting from the digital banking services that the bank provides to its customers, which are witnessing development and modernization. Continuously with growing investments.
The number of automated teller machines increased to about 6,532 in December 2022, an increase of 1,185 machines from December 2021, reaching 6,674 in June 2023, and the number of POS machines increased in December 2022 to about 403 thousand machines, compared to about 335 thousand machines in December 2021, to reach in June. 2023 to more than 469 thousand machines.
The bank opened 46 new branches, bringing the total branch network in December 2022 to 634 branches, offices and banking units spread throughout the Republic to be close to the various segments of the bank’s customers.
The total loan portfolio of the bank grew by about 47% from December 2021, as it recorded EGP 1,729 billion at the end of December 2022, compared to about EGP 1,175 billion in December 2021, to continue growing to reach about EGP 1.978 trillion by the end of June 2023.
With regard to small and medium enterprises, the bank was able to provide financing worth EGP 143bn in December 2022, which was increased to EGP 159bn by the end of June 2023, compared to EGP 110bn in December 2021.
Total customer deposits amounted to 3.2 trillion pounds in December 2022, an increase of 836 billion pounds from December 2021, and reached about 3.4 trillion pounds in June 2023.
In the field of retail banking, the loan portfolio increased to reach 227 billion pounds in December 2022, an increase of 68 billion pounds, with a growth rate of 42% over December 2021, achieving about 256 billion pounds by the end of June 2023.
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2023-08-22 16:00:00
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