Egypt’s Export Development Bank profits rise 48% in H1-FY2019

Export Development Bank of Egypt (EBE) reported on Thursday a 48 percent increase in its profits during the first half of financial year 2018/2019.

Profits jumped to 585.61 million Egyptian pounds ($33.4 million) during the six-month period ended in December 2018 from 395.94 million during the same period a year earlier, according to a bourse filling.

Interest revenues rose to 896.08 million pounds during the first half of financial year 2018/2019 against 591.75 billion pounds in the year-ago period.

Meanwhile, standalone profits climbed to 546.29 million pounds in the July-December period of financial year 2018/2019, compared with 362.72 million during the same period of financial year 2017/2018.