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NBE reports net profits of EGP 20.2bn in FY 2018/19 - Daily News Egypt

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NBE reports net profits of EGP 20.2bn in FY 2018/19

The bank’s total finances increased to EGP 1.6trn in June 2019, compared to EGP 1.5trn in June 2018. Equity amounted to about EGP 110bn in 2019, compared to EGP 92.2bn in the year before.


The National Bank of Egypt (NBE) has reported a net income after tax of EGP 20.2bn in the last fiscal year (FY) ending in June 2019. The NBE’s latest figures mark a 100% growth rate on the EGP 10.1bn figures reported for FY 2017/18.

The bank’s total finances increased to EGP 1.6trn in June 2019, compared to EGP 1.5trn in June 2018. Equity amounted to about EGP 110bn in 2019, compared to EGP 92.2bn in the year before.

NBE Chairperson Hisham Okasha said these indicators reflect the distinguished results of the bank’s work.

He added that the bank’s loan portfolio reached EGP 637bn by the end of March 2020, compared to EGP 545bn in June 2019. This marks an increase of nearly EGP 100bn, with a market share of over 30%.

Okasha also said that the size of the large corporate loan portfolio reached EGP 474bn in March 2020, compared to EGP 414bn in June 2019, in addition to indirect financing of EGP 195bn.

Yehya Aboul Fotouh, Deputy Chairperson of the NBE, said that the bank’s small and medium-sized projects portfolio reached EGP 65bn by the end of March 2020. The latest figures compare to the EGP 57bn reported in June 2019, in addition to indirect financing amounting to EGP 7.2bn.

He added that the bank’s retail banking portfolio reached EGP 98.4bn at the end of March 2020, compared to EGP 73.2bn in June 2019.

The volume of customer deposits with the bank reached EGP 1.416trn at the end of March 2020, compared to EGP 1.196trn in June 2019, an EGP 220bn increase, or 31% of the market. The balance of savings certificates amounted to EGP 923bn in March 2020, of which about EGP 30bn are invested in the bank’s 15% saving certificates.

Dalia El-Baz, Deputy Chairperson of the NBE, said the bank currently has 10 electronic branches which will increase to 25 by the end of the year.

She noted that Al Ahly Net customers reached 2.3 million in February 2020, with 58,500 corporate customers, and 3 million electronic wallets.

El-Baz pointed out that the bank’s real estate mortgage finance portfolio, granted to 81,800 customers, reached about EGP 8.6bn by the end of March 2020. This marks an increase of EGP 1.5bn and 13,500 new clients on June 2019.

According to El-Baz, the bank’s total number of customers reached 14 million by the end of March 2020, compared to 12.4 million in June 2019, an average of 9,000 new customers for each business day.

The NBE currently has 510 branches and banking units, offers 4428 ATMs, 22,000 POS, and 43,000 Fawry POS. The bank has issued a total of 1. 171 million credit cards, 5.3 million debit cards, 4.8 million prepaid cards, and 1.7 million Meeza card.

Nermeen Shehab El-Din, Head of the NBE’s Marketing and Community Development section, said the bank’s total CSR contributions amounted to EGP 6bn over five years, including EGP 1.526bn in FY 2018/19.

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https://dailyfeed.dailynewsegypt.com/2020/04/05/nbe-reports-net-profits-of-egp-20-2bn-in-fy-2018-19/
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