National Bank of Egypt

About 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 purely commercial bank besides carrying out the functions of the central bank in the areas where the latter had no branches. Moreover, since the mid-1960s, NBE has been in charge of issuing and managing investment certificates on behalf of the government. During the period from July 1st, 2020 to December 31st, 2021 (18 months), NBE managed to achieve unprecedented performance indicators. Total financial position as of the end of December 2021 recorded EGP 3.3 trillion, growing 60.2% against the end of June 2020. Accordingly, NBE's total assets accounted for 37.5% of Egyptian banks' total assets. NBE's financial position continued to scale up to EGP 3.6 trillion as of end-June 2022.