National Bank of Egypt 2022 pretax profit at EGP 17 billion

The National Bank of Egypt (NBE), the country’s largest public lender, posted pretax profit of 71 billion Egyptian pounds ($2.3 billion) for the financial year to December 31, 2022.

Net profit after tax reached 35 billion pounds, the bank further said in a statement.

Financial position amounted to 4.4 trillion pounds as of December 2022, from 3.2 trillion pounds as of December 2021.

As of June 31, 2023, the bank said its financial position had surged to around 4.9 trillion pounds.

Customers’ deposits also rose to around 3.2 trillion pounds in December 2022 and to 3.4 trillion pounds in June 2023.

Retail lending portfolio hiked 42 percent year-on-year to 227 billion pounds at the end of December 2022. It stood at 256 billion pounds at the end of June 2023.