The ordinary general meeting of Export Development Bank of Egypt (EDBE) approved the board and auditors’ reports, as well as standalone financial statements and dividend plan for the fiscal year that ended on June 30, 2014.
The lender posted EGP 307.5 million consolidated net profit for the fiscal year that ended on June 30, 2014, with an increase by 69% compared with EGP 181.5 million net profit a year earlier.
FY13/14 standalone financial statements showed EGP 287.7 million net profit, compared with EGP 140.7 million in FY12/13. The bank posted a 131% surge in net profit to EGP 248.3 million for the nine-month period that ended on March 31, 2014, compared with EGP 107.7 million reported in the same period a year earlier. Financial results for the period July-December, 2013 had shown EGP 147.186 million net profit, compared with EGP 84.134 million in the same period a year earlier.