Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) on Monday announced it has recorded a net profit of EGP 148.2 million in the first quarter of 2019, up 0.2% year-on-year from EGP 147.88 million.

Net interest income fell slightly to EGP 1.84 billion in the three-month period ended in March, against EGP 1.87 billion in Q1-18, the Cairo-based lender said in a statement to the Egyptian Exchange (EGX).

Meanwhile, standalone profits stood at EGP 145.78 million in Q1-19, compared to EGP 136.53 million in the year-ago period, EG Bank added.

Total deposits in the bank amounted to EGP 57.93 billion at the end of March, while loan facilities provided to clients reached EGP 24.66 billion, according to the statement.

It is worth noting that EG Bank previously posted a net profit of EGP 579.9 million in the full-year ended 31 December 2018, rising 12% from EGP 516.5 million in 2017.