Egypt’s National Bank assets jump to $169 billion in Q1 of 2022

The National Bank of Egypt (NBE), the country’s largest bank says total assets hit 3.33 trillion Egyptian pounds ($169 billion) in the end first quarter of the year, up from 3.233 trillion pounds at the end of December 2021.

NBE’s loans and facilities rose by 1.276 trillion Egyptian pounds in the end first quarter in the year, compared to 1.127 trillion pounds at the end of December 2021, according to bank’s statement on Tuesday.

The profits before income taxes also increased to 19.340 billion pounds by the end first quarter of the year compared to from 26.505 billion pounds in nine months from July 2020 to March 2021.

The bank has achieved net of 11.655 billion pounds at the end of March 2022, compared to 9.573 billion pounds from July 2020 to March 2021, the financial statement revealed.

While, the net income from return was about 29.555 billion pounds at the end of March 2022, compared to 36.438 billion pounds from July 2020 to March 2021.

The return on loans and similar revenues was about 75.597 billion pounds at the end of March 2022, compared to 155.979 billion pounds from July 2020 to March 2021.