Cairo – Mubasher: National Bank of Egypt’s (NBE) retail loan portfolio surged by 59% year-on-year, recording EGP 73 billion during fiscal year 2018/2019, the lender’s vice chairman Yehia Aboul Fotouh said.
The state-owned bank’s market share in retail banking loans in Egypt grew by 4.1% to 21.2% during the 12-month period ended 30 June, Aboul Fotouh added in a statement on Wednesday.
Personal loans made up the majority of retail banking loans as the bank provided new funding worth EGP 39 billion to about 255,000 customers in FY18/19.
Meanwhile, outstanding personal loans registered EGP 52 billion, representing around 70% of the bank’s retail banking portfolio.
During FY17/18, NBE posted net profits of EGP 10.111 billion, down from EGP 13.434 billion in the prior fiscal year.
