Operating income of Egypt’s state-owned banks performances reviewed
According to a recent report in Al-Borsa Al-Masriya magazine, the Egyptian Suez Canal Bank posted a net operating income of EP 35 million in the first three months of 2000, compared to 26.6 million during the first three months of the previous year.
Similarly, the National Societe Generale Bank has shown positive outcomes, with its net income growing from EP 26.5 million in the first half of 1999, to EP 30.1 million in the first six months of this year. In addition, the bank’s operating profits reached EP 61 million in the first half of 2000, compared to EP 53.5 million in the corresponding period of 1999. These figures represent a 15 percent increase.
However, the profits of the International Credit Bank declined by 48 percent, falling from EP 7.7 million in the first quarter of 1999 to EP 4 million in the corresponding period of 2000. –(Albawaba-MEBG)