Emirates NBD Egypt announced significant business results in 2024, showing the Bank’s separate financial statements. Its net profits rose to EGP 5.3 bn in 2024, compared to EGP 3.2 bn during 2023, with growth of 64%. Reflecting the Bank’s strong and sustainable performance in the Egyptian market, and its commitment to providing innovative banking services that meet the needs of customers and enhance its leadership position in the banking sector.
The Bank’s profit before income taxes recorded EGP 7.5 bn in 2024, compared to EGP 4.9 bn in the same period of 2023, with a growth rate of 54%, and a total increase of EGP 2.6 bn.
Net interest income rose by 52.77% to EGP 11.1 bn in 2024, compared to EGP 7.3 bn in 2023, with an increase of EGP 3.8
bn.
Net fees and commissions income rose by 51.48% over the past year, reaching EGP 1.7 bn in 2024, compared to EGP 1.1 bn in 2023.
At the level of Emirates NBD Egypt, the Bank’s assets increased by 24.05% over the past year, registering EGP 158.9 bn by the end of 2024, compared to EGP 128.1 bn by the end of 2023.
Customer deposits portfolio jumped 24.87% in 2024, with a total value of EGP 128.2 bn by the end of the year, compared to EGP 102.7 bn by the end of 2023. Deposits was distributed between EGP 46.1 bn as retail deposits and EGP 82.1 bn as corporate deposits, reflecting customers’ confidence in the products and services offered by the bank that meet depositors’ aspirations
Customer deposits portfolio jumped 24.87% in 2024, with a total value of EGP 128.2 bn by the end of the year, compared to EGP 102.7 bn by the end of 2023. Deposits was distributed between EGP 46.1 bn as retail deposits and EGP 82.1 bn as corporate deposits, reflecting customers’ confidence in the products and services offered by the bank that meet depositors’ aspirations.
The Bank expanded in offering loans to the customers over the past year, bringing its total customer loans by about 39.95%, the highest annual growth rate since entering the Egyptian market, bringing the portfolio size to EGP 84.1 bn by the end of 2024, compared to EGP 60.1 bn by the end of 2023, as a result of growth in the two sectors loans: corporate sector and retail banking sector.
He added, “The bank remains committed to its expansion strategy, reinforcing its presence in the Egyptian market through advanced technological services that provide essential support to both individuals and businesses. Our goal is to meet the growing demand for seamless electronic banking transactions, both locally and internationally.”
ElShafei further emphasized that the bank’s workforce is its greatest asset, playing a pivotal role in driving its success. He credited the dedicated team as the primary force behind the bank’s continued Solid performance across all financial indicators.
It is worth noting that Emirates NBD Egypt entered the Egyptian market in June 2013 through acquiring BNP Paribas in Egypt.
The Bank has a large network of 67 branches by the end of 2024 and has around 339 ATMs spread across Egypt to reach its customers in various locations.
