According to Amwal Al Ghad Arabic, the state-run National Bank of Egypt (NBE) has announced a substantial increase in profits during the first half of 2023. The bank recorded a profit of 46.340 billion Egyptian pounds, a notable rise from the 30.278 billion pounds reported in the corresponding period of 2022. The financial statement further disclosed a net profit of 24.744 billion pounds for H1 2023, compared to 14.103 billion pounds in the same period last year.
The bank’s robust performance is attributed to a significant surge in net income from returns, reaching 78.363 billion pounds by June 2023, surpassing the 45.883 billion pounds recorded in the first half of 2022. This positive financial outcome reflects the National Bank of Egypt’s strong position and successful financial management strategies.
