State-owned National Bank of Egypt’s net income declined 40% to EGP 13.1 bn in its 2019-2020 fiscal year, compared to EGP 20.2 bn a year earlier, the bank said in a statement (pdf) this week. The statement provides little insight into why the state-owned bank’s profits declined and does not disclose its net interest income during the period. The country’s largest lender saw its loan portfolio rose 33% to EGP 721 bn during the year, while the ratio of non-performing loans fell to 1.4%, compared to 1.6% in FY2018-2019.

NBE claims a 35.2% share of all loans in the banking sector, saying it grew its portfolio 33% Y-o-Y to EGP 720 bn as of June 2020 and to EGP 935 bn as of March 2021. The bank’s non-performing loans fell as a percentage of total loans to 1.4% last year compared to 1.6% the year before. It also claimed a 35.5% market share of deposits as of March 2021 at about EGP 2 tn.

NBE emphasized in the statement that it paid EGP 17.5 bn in taxes to the public treasury and said it had 1.4 mn customers sign up for its internet banking service in the period. The bank had 553 physical branches, offices and other units in service at the end of March 2021.

(If you’re clicking through to the press release, you’ll want to read carefully: Financial figures are for FY2019-2020, while some figures including total loan book, deposit and market share are variously quoted that fiscal year and for 9M2020-2021.)