Emirates NBD-Egypt posts 13.3% YoY growth in Q1 net profits

Amr Abdallah Dalsh

The customer deposits portfolio increased by 4% to EGP 106.7 billion in March

Staff Writer, Arab Finance

May 14, 2024

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Emirates NBD - Egypt has recorded a net profit of EGP 1.1 billion in the first quarter (Q1) of 2024, up by 13.3% from EGP 964.7 million in the same period of 2023, as per an emailed press release.

The bank’s net interest income jumped by 80.7% year on year (YoY) to EGP 2.6 billion in Q1 2024 from EGP 1.4 billion.

Regarding the main portfolios of Emirates NBD - Egypt, its assets grew by 7.21% in Q1 2024, registering EGP 137.3 billion at the end of March, compared to EGP 128.1 billion end-2023.

The customer deposits portfolio increased by 4% to EGP 106.7 billion in March, compared to EGP 102.7 billion at the end of 2023.

Meanwhile, total customer loan portfolio stood at EGP 65.1 billion in Q1 2024, compared to EGP 60.1 billion in 2023.

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