Egypt: early week corporate news
Egyptian British Bank –EBB (EBBK.CA) announced FY2000 results ending December, in which NAI rose 18.1 percent to LE56.3 million compared to LE47.6 million in FY99. Net interest income increased 22.7 percent to LE92.4 million versus last year's LE75.4 million. Furthermore, deposits edged 32.4 percent higher to LE3.04 billion compared to LE2.3 billion in FY99, while net loans slipped 14.3 percent to LE1.55 billion compared to LE1.81 million. On another note, HSBC recently acquired nearly 90 percent of EBB at LE500/share.
East Delta Mills (EDFM.CA) released 1H FY2001 results ending December, in which NPBT dipped 4 percent to LE19.2 million compared to LE20 million in 1H FY99. Net sales surged 7.1 percent to LE224 million versus LE241 million.
El Nasr Transformers -El MACO (NASR.CA) will hold its ordinary and extraordinary general assemblies on March 18 to approve FY2000 financial statements and the distribution of profits.
The Ministry of Finance announced a 91-day T-bill auction with a total face value of LE500 million. The issue date is February 22 and the maturity date is May 24. The final date for bids is February 21.
Prime Securities S.A.E.
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