Head of Egypt's largest bank resigns
The chairman Egypt's largest public bank, the National Bank of Egypt (NBE), has resigned, a source familiar with the matter has told Ahram Online.
According to the same source, Tarek Amer, who was in charge at the bank for five years, had presented his resignation several times during the rule of the Supreme Council of the Armed Forces after the 2011 uprising, but it had been rejected.
It is not yet clear if the president has accepted his resignation.
Amer was not available for comment on the matter.
In an interview with Ahram Online last year, Amer said NBE managed some LE300 billion ($45.7 billion) in assets, the largest sum in Egypt.
In January 2012, NBE announced an increase in net profit before tax of 14 per cent, to reach LE4.2 billion ($600 million) in the 2010/11 financial year.
Net profit after tax reached LE2.1 billion ($304 million), the highest in the bank's history.
Amer served as a deputy governor of the Central Bank of Egypt for a year in 2007.
- United Arab Bank makes AED250,000 contribution to Al Thiqah Club for the Handicapped
- Opening up: is Saudi Arabia's stock market ready for an upgrade?
- Severe symptom of a savings gap? Turkey leads Europe in credit card debt
- Gulf stocks facing some serious 'downward pressures'
- Long-anticipated hike: Dollar on track for best annual gain in nine years
- A tough year at the office: Head of Egypt's central bank to resign by year end
- Saudi’s National Commercial Bank CEO resigns
- CORECAP MERCHANT BANK closes first tranche of private placement at QR 55 Million and is heading to QR 100 Million closing
- Head of Syrian Commercial Bank arrested for financial misconduct