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NBK Egypt profits hike 77% in 2017

NBK Egypt profits hike 77% in 2017
NBK Egypt logs 77% increase in 2017 profits
NBK
NBKE
-0.26% 19.05 -0.05

Cairo – Mubasher: National Bank of Kuwait of Egypt (NBK) on Thursday reported a 77% year-on-year surge in standalone profits for 2017.

Net profit totalled EGP 1.5 billion last year, compared to EGP 848.9 million at the end of 2016, the bank said in a filing to the Egyptian Exchange (EGX).

Revenues stood at EGP 5.52 billion in 2017, up from EGP 3.75 billion a year earlier.

Given that NBK Egypt had achieved profits of EGP 433.8 million in the third quarter of 2017, versus EGP 252.2 million profits in Q3-16.