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 saving certificates on behalf of the government.During the FY 2014/15, NBE managed to achieve positive performance indicators. Total financial position in June 2015 recorded EGP 519.6 bn., growing 14% yoy. Accordingly, NBE's total assets accounted for 23.6% of the total banking system assets.Total deposits reached EGP 447.8 bn., with a growth rate of 13.9% yoy, accounting for 25.8% of the total banking system deposits. Such leap was driven by the introduction of a diversified package of deposits in local and foreign currencies at competitively lucrative rates. Net cumulative balance of NBE's saving certificates, the largest household saving scheme in Egypt, recorded EGP 108.9 bn. as at the end of June 2015.NBE has further provided a set of distinguished finance schemes that meet the needs of key economic sectors. The total retail loan portfolio reached EGP 31.5 bn. as at the end of June 2015, growing 20.2% yoy.NBE had also assumed an active role in funding key strategic economic sectors including oil, energy, electricity, gas, telecommunications, air transportation, tourism and contracting. Total large corporate loan portfolio surged 27% to reach EGP 107.6 bn. as at June 2015.In line with NBE's support to small and medium sized enterprises (SMEs), the total SME loan portfolio reached EGP 16.6 bn., growing 23% yoy. Total finance injected to SMEs amounted to EGP 7.1 bn. during the year, whether in the form of extending loans to new customers or scaling up finance to existing ones. NBE also relent – during the year - an amount of EGP 2.2 bn. from the Social Fund for Development (SFD) to its customers, commanding 80% of the total number of agreements made by SFD with the banking system.