Cairo – Mubasher: Egyptian Gulf Bank’s (EG Bank) estimated budget for 2018 targets profit of EGP 575 million.

The bank aims at raising total assets by 20% against the projected assets during 2017, EG Bank added in a statement to the Egyptian Exchange (EGX) on Tuesday.

EG Bank had previously posted a net profit of EGP 121.6 million in the third quarter of 2017, up from EGP 73.4 million in Q3-16.

In the first nine months of 2017, the lender's net profit rose to EGP 378.3 million from EGP 312.16 million in the prior-year period.