The National Bank of Egypt (NBE) has accounted for 27.3% of the total loan volume of banks operating in the Egyptian market by the end of 2016. The loan portfolio reached EGP 352.6bn in December 2016, a growth of 52% over June 2016.
The bank’s deposit portfolio jumped to EGP 749.3bn, an increase of EGP 190.6bn during the first half of the fiscal year 2016/2017, compared to EGP 558.6bn in June 2016, a growth of 34%.
The bank’s market share increased to 27.2% of total deposits in the Egyptian banking sector in December 2016.
The financial results of NBE announced last week showed that the bank achieved a 17% growth in its pre-tax net profit during the first half of the fiscal year 2016/2017 ending in December 2016, to reach EGP 10.5bn, compared to EGP 9bn in December 2015.
The bank’s net profit after taxes reached EGP 6bn in December 2016, compared to EGP 5.8bn in December 2015, a growth of 4%.
The bank’s total equity reached EGP 68.9bn in December 2016, compared to EGP 38.6bn in June 2016. The financial position increased by EGP 409.7bn to EGP 1.113tn, compared to EGP 703.3bn.
The bank’s figures show that the bank’s small and medium enterprises (SMEs) loans amounted to EGP 26.6bn by the end of December 2016. These loans were granted to 50,000 customers, compared to EGP 24.5bn in June 2016. Of these, EGP 5.6bn were granted as part of the framework of the Central Bank of Egypt (CBE) initiative at an interest rate of 5% and 7%.
The results also showed that the portfolio of loans of major companies increased by EGP 115.4bn, marking a growth rate of 68% to reach EGP 284bn in December 2016, compared to EGP 168.6bn in June 2016.
According to the bank, the number of customers with e-portfolios launched by the NBE reached about 1.5 million customers. The immediate mobile remittance transfer service has been recently introduced. The service enables clients to receive remittances from ATMs immediately after they are transferred.
Retail loans at NBE increased 10% to EGP 42.1bn in December 2016, compared to EGP 38.1bn in June 2016.
Meanwhile, the number of ATMs reached 3,090 machines in December 2016, an increase of 357 machines since June 2016. The network also reached 395 branches, offices, and banking units spread throughout the republic.
According to the bank, the number of customers increased to about 7.6 million. The number of debit cards increased by 460,000 during the first half of fiscal year 2016/2017 to 3.528 million in December 2016, compared to 3.068 million in June 2016.
The number of credit cards increased by 72,000 to 864,000 in December 2016, compared to 792,000 in June 2016. The number of wage cards increased by 230,000 cards to reach 3.2 million cards against 2.97 million cards.
The bank revealed that it has pumped about EGP 1.7bn to support social responsibility over the past five years. The bank’s contribution to the development of informal settlements has also exceeded EGP 1bn.