National Bank of Egypt

NBE is the oldest commercial bank in Egypt. It was established on June 25, 1898 with a capital of £ 1 million. Throughout its long history, NBE’s functions and roles have continually developed to square with the different economic and political stages in Egypt. During the 1950s, NBE assumed the central bank’s duties. After its nationalization in the 1960s, it acted as a pure commercial bank besides carrying out the functions of the central bank in the areas where the latter had no branches. Moreover, since mid-1960s, NBE has been in charge of issuing and managing investment certificates on behalf of the government.

During the period from July 1st, 2020 to December 31st, 2021 (18 months), NBE managed to achieve unprecedented performance indicators. Total financial position as at the end of December 2021 recorded EGP 3.3 trillion, growing 60.2% against the end of June 2020. Accordingly, NBE’s total assets accounted for 37.5% of Egyptian banks’ total assets. NBE’s financial position continued to scale up to EGP 3.6 trillion as at end-June 2022.

Total deposits reached EGP 2.4 trillion as at end-December 2021, with a growth rate of 50% against June 2020, accounting for 37.1% of total banks’ deposits. Such leap was driven by the introduction of a diversified package of deposits in local and foreign currencies at competitively lucrative rates. NBE’s deposits approached EGP 2.8 trillion as at end-June 2022, which highlights the customers’ confidence in our Bank.