Egypt’s National Bank recently posted net profits of $14.8 million for the first half of the current year. This figure reflects a 10 percent increase compared to last year’s net profits of $13.4 million, according to Akhbar Al-Khaleej daily.
Furthermore, the bank revealed that its total asset value also rose from $1 billion at the end of December 2000, to $1.2 billion at the end of June 2001.
In addition, profits from loans and funds grew from $43.6 million to $48.7 million during the same period.
The National Bank of Egypt, established in 1898, is the largest commercial bank in the country. It boasts 344 banking units nationwide as well as three foreign offices and branches. –(Mena Report)
© 2001 Mena Report (www.menareport.com )