NBK-Egypt reports EGP 2bln (Equivalent to KWD 12.6mln) net profit in 1Q2025

Zawya

27-05-2025

Al-Bahar:
The robust growth underscores the bank's strong financial standing and the agility of its business model across diverse economic landscapes
The bank delivered solid operational performance across core sectors despite prevailing headwinds
Upward momentum in key financial indicators reaffirms our path to strengthening NBK's presence in its most strategic foreign market
NBK Egypt ranks among the fastest-growing institutions in the Egyptian banking industry
Egypt remains a pivotal growth market and a cornerstone of the Group's long-term strategic vision
The Egyptian economy offers vast potential, positive outlooks, and compelling opportunities for further growth
El -Tayeb:
The bank sustains its strong performance, delivering robust growth across all key financial indicators
We aim to reinforce our presence in both the retail and corporate banking sectors
NBK–Egypt accelerates its expansion of digital services and advances its digital transformation agenda
We are committed to supporting the global shift toward sustainable finance and the green economy transition
National Bank of Kuwait - Egypt (NBK-Egypt) has reported net profits of EGP 2 billion (Equivalent to KWD 12.6 million) for the first three months of 2025, from the EGP 1.3 billion (Equivalent to KWD 11.7 million) reported in the corresponding period of 2024, showcasing an impressive growth rate of 58%.
Net Operating Income stood at EGP 3.8 billion in 1Q2025, recording an increase of 38% from EGP 2.8 billion recorded in the corresponding period of 2024. In the meantime, Net Interest Income grew by 41%, reaching EGP 3.3 billion compared to EGP 2.4 billion in 1Q2024.
Meanwhile, Net Operating Income (excluding interests) increased to EGP 0.5 billion in 1Q2025, compared to EGP 0.4 billion in 1Q2024, up by 20%, while Cost to Net Operating Income dropped from 26% in 1Q2024 to 25% in 1Q2025.
Total assets reached EGP 203 billion by the end of 1Q2025, up by 4% compared to EGP 196 billion by the end of 2024. Furthermore, total loans and credit facilities expanded to EGP 109 billion in 1Q2025, reflecting a growth rate of around 5% compared to EGP 104 billion recorded at the end of 2024. Additionally, customer deposits increased to EGP 164 billion by the end of 1Q2025, up from EGP 160 billion at the end of 2024, representing a growth rate of 3%. Furthermore, The Return on Average Assets (ROAA) improved to 4.1% in 1Q2025, compared to 3.6% in the corresponding period of 2024, while the Return on Average Equity (ROAE) increased to 35.8% in 1Q2025, up from 33.6% in the corresponding period of 2024.
Commenting on the financial results announced by NBK-Egypt, Ms. Shaikha Al-Bahar, Deputy Group Chief Executive Officer, National Bank of Kuwait, and Chairman of NBK-Egypt, said: 'The robust profit growth achieved by National Bank of Kuwait – Egypt in the first quarter of 2025 is a clear testament to the strength of our financial position, the resilience of our business model, and our ability to perform across varying economic landscapes.'
Al-Bahar explained that despite operational headwinds, the bank succeeded in delivering strong performance across its core business segments during the first quarter of 2025. She emphasized that the continued expansion of the bank's balance sheet and the sustained growth in key financial indicators reaffirm the soundness of NBK Group's strategic vision
. She noted that the bank remains firmly on track to further strengthen its position in what has become the Group's most significant foreign market, given Egypt's vast potential, positive outlook, and promising growth opportunities.
Furthermore, Al-Bahar affirmed that Egypt remains a key growth market for NBK Group and represents a cornerstone of its long-term strategic investments. She highlighted that the Group's operations in Egypt continue to rank among its most profitable, delivering the highest returns on shareholders' equity and assets. This performance, she noted, reflects the success of NBK's business diversification strategy and the rapid momentum of its digital transformation journey—both of which are central to the bank's efforts to expand its market share, particularly in retail banking, within one of the region's most populous countries and one of its most promising investment landscapes.
She underscored the prominent footprint NBK Egypt has established as one of the fastest-growing banks in the Egyptian banking sector—an achievement clearly reflected in its robust financial indicators and the sustained growth in business performance witnessed over recent years.
Al-Bahar also noted that NBK Egypt is focused on enhancing the quality of its services, expanding its geographical presence, and reaching a broader and more diverse customer base. She highlighted the significant strides the bank has made in modernizing its digital infrastructure, information technology systems, and electronic channels—advancements that have reinforced its position as a strong and competitive player in the Egyptian banking market. This progress comes in tandem with the growing demand for banking services and the rising momentum of financial inclusion across the country.
Meanwhile, Vice Chairman, CEO, and Managing Director of National Bank of Kuwait-Egypt, Mr. Yasser El-Tayeb, said: 'The robust financial results achieved by the bank at the end of the first quarter of 2025 underscore the resilience and adaptability of our business model, enabling sustained growth despite the challenges posed by local, regional, and global market conditions.'
El-Tayeb highlighted that NBK Egypt's business growth is well-balanced across all sectors, while maintaining efficiency and risk ratios aligned with sustainable expansion. This success is attributed to the bank's prudent policies and a flexible business model designed to effectively meet customer needs.
He emphasized that NBK-Egypt is experiencing consistent growth across all activities and business sectors while maintaining efficiency rates and risk ratios that align with this expansion. This approach ensures business sustainability and customer satisfaction alike, thanks to the bank's prudent policies and its robust business model capable of meeting customer needs and diversifying income sources.
He further added that the majority of NBK Egypt's income is generated from credit operations within the corporate sector, alongside contributions from retail banking. The bank's credit portfolio encompasses a wide range of clients, including large, medium, and small enterprises, while its retail banking portfolio serves diverse customer segments. This breadth underscores the strength and diversity of the bank's income sources.
Al-Tayeb emphasized the bank's commitment to further strengthening its position in the retail banking sector by offering advanced services and products tailored to diverse customer segments, aiming to establish itself as a comprehensive bank that fulfills all their financial and life needs.
He also affirmed the bank's ongoing commitment to enhancing its digital banking services, aiming to deliver a seamless and unique banking experience that enables customers to carry out most of their transactions anytime and from anywhere. He added that the bank is actively working to encourage wider adoption of digital payment channels, in line with the broader policy directions of the Egyptian government and the Central Bank of Egypt.
El-Tayeb concluded by underscoring NBK Egypt's commitment to supporting the global shift toward sustainable finance and the transition to a green economy. He noted that the bank actively backs environmentally responsible projects that promote sustainability and rely on renewable energy sources. In addition, it continues to explore viable solutions to mitigate the adverse effects of climate change and reduce carbon emissions. He further highlighted that sustainable finance has become one of the most critical tools for safeguarding long-term financial stability.
About the Bank:
NBK-Egypt has a vast network of 52 branches spread over premium locations in various Egyptian governorates and cities, including Cairo, Giza, Alexandria, Delta, Red Sea, Port Said, Upper Egypt, and the industrial zones in 6th of October 10th of Ramadan cities. The Bank is also privileged to be among the elite banks within the Egyptian market that offer Islamic banking services in addition to its conventional products throughout its Islamic branches. Moreover, NBK-Egypt has a vast network of ATMs nationwide to service the Bank's clients around the clock. Furthermore, the bank offers a wide range of digital and electronic services, providing its customers with a unique banking experience. These services enable customers to conveniently conduct their banking transactions anytime and anywhere, eliminating the need to visit the bank for every transaction.
National Bank of Kuwait (NBK) was incorporated in 1952 as the first local bank and the first shareholding company in Kuwait and the Gulf region. NBK continues to enjoy collectively one of the highest ratings among all banks in the Middle East from the three international rating agencies Moody's (A1), Standard and Poor's (A), and Fitch Ratings (A+). The Bank's ratings are supported by its strong financial indicators, asset quality, and high capitalization, in addition to its highly recognized and very stable management team, as well as strategic vision and stable funding base. NBK enjoys the most comprehensive banking presence with a local and international network with international presence in the world's leading financial centers including China, Geneva, London, Paris, New York, and Singapore, in addition to its regional presence in Egypt, Lebanon, Bahrain, Saudi Arabia, Iraq, and the UAE.