State-owned National Bank of Egypt has achieved net profit before tax of 30.6 billion Egyptian pounds during fiscal year 2019-2020
However, NBE’s net profits declined 40 percent to 13.1 billion Egyptian pounds during the same period, compared to 20.2 billion pounds a year earlier, the bank said
NBE emphasized in the statement that it paid 17.5 billion pounds in taxes to the public treasury.
The country’s largest lender saw its loan portfolio rose 33 percent to 721 billion pounds during the year, while the ratio of non-performing loans fell to 1.4 percent, compared to 1.6 percent in FY2018-2019.
The bank added that it had 1.4 mn customers’ sign up for its internet banking service in the period. The bank had 553 physical branches, offices and other units in service at the end of March 2021.
NBE claims a 35.2 percent share of all loans in the banking sector, saying it grew its portfolio 33 percent Y-o-Y to 720 billion pounds as of June 2020 and to 935 billion pounds as of March 2021.
The bank’s non-performing loans fell as a percentage of total loans to 1.4 percent last year compared to 1.6 percent the year before.
It has also captured a 35.5 percent market share of deposits as of March 2021 at about 2 trillion Egyptian pounds
