ABC with LE 35 m profit in 2011

Arab Banking Corporation achieved EGP 35.004 million in pre-tax net profit in 2011, compared with EGP 29.417 million in 2010, with 19% increase.

ABC’s deposit portfolio rose by 7% as it registered EGP 3.885 billion, compared with EGP 3.620 billion at the end of 2010.

ABC’s financial indicators showed a 5% retreat in loan portfolio (net of provision) as it reached EGP 1.567 billion at the end of 2011, compared with EGP 1.656 billion at the end of 2010.

Equity rose to EGP 849.4 million, compared with 844.4 million, while reserves declined by 1% reaching EGP 209.3 million, compared with EGP 212 million in 2010.