National Bank of Egypt

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 investment certificates on behalf of the government.

During FY 2018/2019, NBE managed to achieve unprecedented performance indicators. Total financial position as at the end of June 2019 recorded EGP 1.6 trillion, growing 4.6% yoy. Accordingly, NBE’s total assets accounted for 29.3% of Egyptian banks’ total assets.

More information on the National Bank of Egypt Website at https://www.nbe.com.eg/NBE/E/#/EN/Home