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NBK-Egypt reports $104.8mln in net profit by the end of Q3 2024

The article from Zawya reports that the National Bank of Kuwait (NBK) Egypt has achieved a net profit of 1.048 billion Egyptian pounds by the end of the third quarter of 2024. This represents a significant increase from the 688 million pounds reported in the same period of the previous year. The growth in net profit was attributed to a 47% rise in net interest income, which reached 3.3 billion pounds, and a 30% increase in net fees and commissions income, totaling 750 million pounds. Additionally, the bank's total assets grew by 10% to 115 billion pounds, with loans and advances to customers increasing by 11% to 53 billion pounds. The bank also saw a 12% rise in customer deposits, amounting to 97 billion pounds. These financial achievements reflect NBK Egypt's robust performance and strategic growth initiatives amidst a challenging economic environment.

Read the Full Zawya Article at [ https://www.zawya.com/en/business/banking-and-insurance/nbk-egypt-reports-1048mln-in-net-profit-by-the-end-of-q3-2024-hg1yfpdt ]