Cairo – Mubasher: Export Development Bank of Egypt’s (EBE) is seeking to raise profits by 26% year-on-year according to its estimated budget for the fiscal year 2018/2019.

The Egypt-based lender eyes posting a profit of EGP 850.16 million in the coming fiscal year, compared to EGP 675.3 million it plans to generate in the current fiscal year, according to a statement to the Egyptian Exchange (EGX) on Thursday.

The bank aims to raise clients’ deposits to EGP 41.8 billion by the end of next year, up from an estimated deposits of EGP 35.4 billion in the fiscal year 2017/2018.

The EGX-listed bank also plans to increase loans to EGP 25.3 billion in the fiscal year 2018/2019, from EGP 19.9 billion during the previous year.

EBE last reported a 46.97% jump in consolidated profit to EGP 560.4 million in the nine-month period from July to March 2018, compared to EGP 381.3 million in the prior-year period.