(MENAFN- Daily News Egypt) EFG Holding announced on Monday the completion of a capital increase at Bank NXT, totalling EGP 4.2bn, with full participation from all shareholders. EFG Holding contributed EGP 2.143bn to the increase, maintaining its majority ownership with a 51% stake in the bank.

This strategic capital injection underscores EFG Holding's continued confidence in Bank NXT's solid fundamentals and long-term growth prospects. The additional capital will bolster Bank NXT's balance sheet and provide greater financial flexibility to support the execution of its growth plans.

The move is a testament to EFG Holding's ongoing commitment to strengthening Bank NXT's position in the market and enhancing value creation across its diverse business portfolio.

Karim Awad, Group CEO of EFG Holding, commented on the transaction:“This capital increase reinforces our commitment to Bank NXT's strategic growth initiatives and supports our broader vision of portfolio development. We believe this step will further solidify the bank's role in our long-term strategy and drive continued growth in both Bank NXT and the Group's overall profitability.”

EFG Holding acquired Bank NXT, formerly known as aiBANK, in 2021. Since the acquisition, the bank has demonstrated strong operating performance, especially in 2025, driven by robust growth across key metrics.

As of June 2025, Bank NXT's total loans to customers had increased by 26% to EGP 41.0bn, up from EGP 32.5bn at the end of 2024. The bank's customer base also grew by 22%, reaching approximately 106,000 customers, compared to around 86,000 at the close of 2024. Meanwhile, customer deposits climbed by 12% to EGP 76.2bn, up from EGP 68bn last year.

The bank's net profit for the first half of 2025 reached EGP 1.1bn, reflecting a 24% increase from EGP 901.6m in the same period in 2024. These results highlight Bank NXT's expanding scale and profitability, which continue to contribute positively to EFG Holding's overall growth and value creation.

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