Cairo – Mubasher: The Egyptian unit of National Bank of Kuwait (NBK) on Wednesday reported a 33.22% year-on-year increase in net profits for the full year of 2018, recording EGP 2.002 billion ($114.2 million).

NBK Egypt’s assets rose 24.56% to EGP 73.5 billion last year, compared to EGP 59.01 billion, a year earlier.

The bank’s total customer deposits went up 30.11% year-on-year in 2018, reaching EGP 53.16 billion, according to an official statement.

NBK’s group CEO Isam Jassim Al-Sager stated that the NBK-Egypt’s solid growth is an indication of success in firming its foothold in the Egyptian market

NBK-Egypt operates in North African country through 50 branches spread across in Cairo, Giza, Alexandria, Delta, Sinai, Red Sea, and Upper Egypt.

In November, the Egyptian Exchange-listed bank’s net profit recorded EGP 1.4 billion for the period from January to September 2018.