Cairo – Mubasher: Al Ahli Bank of Kuwait – Egypt (ABK) reported a 58% year-on-year surge in net profit for the first quarter of 2018, recording EGP 109 million.  

Operating income grew by 25% in the three-month period ended last March to EGP 287 million as compared with the prior-year period, the bank said in a statement.

Deposits of clients rose by 18% year-on-year in Q1-18 to EGP 20.7 billion, the bank highlighted.

The bank’s total assets amounted to EGP 24.4 billion in Q1-18, versus EGP 21 billion at the end of 2017.

Clients’ deposits and facilities increased by 9% in the three-month period as compared with the end of last year.

ABK has achieved a growth of EGP 1 billion in Q1-18 and EGP 8 billion in the past three years.