The National Bank of Egypt’s (NBE) financial statements show a total increase in its customer deposit portfolio, exceeding EGP 3.6trn by November 2023, with approximately 19.8 million clients.
Hesham Okasha, the Bank’s Chairperson, emphasized its strategies to enhance financial inclusion, introduce new products for all segments of society, participate in financing national projects, embed sustainability principles in core bank activities, and improve the digital customer experience through artificial intelligence.
Okasha highlighted the Bank’s commitment to maximizing profitability, reducing costs, and ensuring customer satisfaction. He also underscored its role in contributing to government initiatives and central bank programs, as well as developing and refining the skills of its workforce.
The Bank’s branch network, comprising 654 branches and banking units, along with 6,733 ATMs, extends its global presence across various continents.
Yehia Aboulfotouh, the Deputy Chairperson of the NBE, noted the continuous development of strategies in response to changes in the domestic and international banking markets, aligning with state policies and central bank directives.
Aboulfotouh reported a 26% growth in the retail banking portfolio to EGP 287bn by November 2023. The number of prepaid cards reached 11.7 million, including 10.4 million Meza cards and 5 million salary cards. Additionally, the Bank’s online service, Ahli Net, attracted 7.6 million individual users and 100,000 corporate users.
NBE claimed the top position among participating banks in the low-income housing finance initiative, capturing a 26.3% market share with a portfolio size of EGP 19.7bn. Aboulfotouh affirmed the Bank’s capacity to provide funding for large-scale projects across various sectors, citing a corporate loan portfolio of around EGP 2trn and an SME financing portfolio of EGP 157.6bn.
Dalia El-Baz, the Deputy Chairperson, praised the Bank’s efforts in corporate social responsibility, with contributions exceeding EGP 11bn over the past seven years. These contributions, aligned with sustainable development criteria, aim to directly impact the Egyptian citizens’ healthcare, education, livelihood, support for single mothers, and assistance for people with disabilities.
El-Baz highlighted the Bank’s ambitious plan for expanding and updating digital services, as well as investing in human capital through training programs to meet changing market requirements and provide high-quality customer service. Additionally, the Bank issued its first comprehensive report on Responsible Banking principles as part of its membership in the United Nations Environment Program for Financial Institutions (UNEPFI).
