Bank NXT’s net income hit a record EGP 1.8 bn in 2024: EFG Holding’s Bank NXT reported a 54% y-o-y increase in net income last year, hitting a record EGP 1.8 bn, according to the bank’s latest earnings release (pdf). The lender attributed its performance to “innovative product offerings and strategic partnerships.”

By the numbers: Net interest income grew 54% y-o-y to EGP 3.9 bn in 2024, while operating income rose 37% y-o-y to EGP 4.9 bn, driven by rising interest rates and an expanded lending portfolio. Customer deposits rose 34% to EGP 68 bn by the end of the year, while total assets increased 29% y-o-y to EGP 79.4 bn.

What they said: “Our strong financial results in 2024 are a testament to our strategic expansion and our unwavering commitment to meeting customer needs. By broadening our product and service portfolio, we have successfully reached a wider customer base across Egypt, reinforcing our position as a leading financial institution,” CEO and Managing Director Tamer Seif El Din said.

It has been a busy year for Bank NXT: EFG Holding’s commercial bank, aiBank, rebrandedto Bank NXT in September to mark a new phase of growth, digital innovation, and customer-centric solutions. “This evolution is about more than just a new name — it’s a bold statement of our vision for a faster, more efficient, and digitally driven banking experience. With this renewed identity, we are strengthening our market position, integrating cutting-edge banking standards, and leveraging digital advancements to redefine financial services,” Seif El Din said.

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