IDWBE bank ups 2017 net profit target to 500 mln Egyptian pounds

State-run Industrial Development and Workers Bank of Egypt (IDWBE) has raised its targeted net profit for 2017 to 500 million Egyptian pounds ($27.9 million), up from 300 million pounds.

IDWBE’s vice chairman Hamdy Azzam told Amwal Al Ghad on Tuesday that profits climbed to 154 million pounds during the first half of 2017, compared with 68 million pounds during the same period last year.