The National Bank of Kuwait – Egypt (NBK-Egypt) has announced a net profit of EGP 2 billion for the first quarter of 2025, equivalent to KWD 12.6 million. This marks a significant increase from the EGP 1.3 billion reported in the same period last year, representing a growth rate of 58%.
The bank’s net operating income rose by 38% to EGP 3.8 billion compared to EGP 2.8 billion in the previous year. Net interest income also increased by 41%, reaching EGP 3.3 billion from EGP 2.4 billion in the first quarter of 2024.
Non-interest net operating income grew by 20% to EGP 0.5 billion, while the cost to net operating income ratio decreased slightly from 26% in the previous year to 25% this year.
Total assets reached EGP 203 billion at the end of March, reflecting a growth of 4% from December’s figure of EGP 196 billion. Loans and credit facilities expanded by around 5% to EGP 109 billion, while customer deposits increased by 3% to reach EGP 164 billion.
The return on average assets improved to 4.1%, up from last year’s figure of 3.6%. Similarly, return on average equity rose to 35.8%, compared with last year’s figure of 33.6%.
Ms. Shaikha Al-Bahar, Deputy Group Chief Executive Officer and Chairman of NBK-Egypt, commented: “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.”
She further explained that despite operational challenges, NBK-Egypt performed strongly across its core business segments during this period and highlighted Egypt as a key growth market for NBK Group.
Vice Chairman, CEO, and Managing Director Mr. Yasser El-Tayeb added: “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 emphasized balanced business growth across all sectors with maintained efficiency and risk ratios aligned with sustainable expansion.
Both Al-Bahar and El-Tayeb stressed their commitment to digital transformation and sustainability efforts as central components for expanding market share within Egypt’s banking sector.
