National Bank of Egypt H1 net profit grows 4%

Egypt’s biggest lender, the state-owned National Bank of Egypt (NBE) reported Thursday a 4 percent rise in its net profit for the first half of the current financial year.

The bank made net profits after tax amounting to 6 billion Egyptian pounds ($331.6 million) at the end of December 2016, compared to 5.8 billion pounds in the same period a year earlier.

Pre-tax net profits also climbed 17 percent to 10.5 billion pounds during the first half of the current financial year, the bank added in a statement.