Egypt’s NBE says 9-month pre-tax profits of EGP 89.104b

Egypt’s biggest state-run lender, the National Bank of Egypt (NBE) reported profits before tax of 89.104 billion Egyptian pounds ($2.8 billion) in the first nine months of 2023, Amwal Al Ghad Arabic reported on Wednesday.

Earlier, the bank’s pre-tax profits stood at 42.764 billion pounds in the first nine months of 2022.

Net profit also rose to 50.009 billion pounds during the first nine months in 2023, compared to 25.265 billion pounds at the end of September 2022.

Total assets jumped to 5.015 trillion pounds at the end of September 2023, from 4.370 trillion pounds during the same period of 2022.

Customers’ deposits grew to 3.583 trillion pounds at the end of September in 2023, compared to 3.221 trillion pounds at the end of 2022.