Lebanon’s Bank Audi says 2018 Egypt net profit hits $77.2 mln

Lebanon-based lender Bank Audi said on Sunday its net profit in Egypt recorded 1.3 billion Egyptian pounds ($77.2 million) at the end of 2018.

Shareholders’ equity registered around 6.7 billion pounds at the end of December 2018, the bank said in a statement.

Customers’ deposits reached 59 billion pounds, while loans and credit facilities portfolio stood at around 32 billion pounds last year.

Moreover, Bank Audi’s expansion strategy focuses on enhancing its presence in the Egyptian banking sector through inaugurating nine new branches nationwide to increase the number of the bank’s customers.