Cairo – Mubasher: National Bank of Kuwait-Egypt (NBK-Egypt) announced the appointment of Yasser Abd El-Koddous as the new vice chairman.

Abd El-Koddous will succeed George Richani as his term of office came to an end, the lender said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The appointment is still pending approval by the Central Bank of Egypt (CBE), the statement added.

It is noteworthy that the CBE approved appointing Abd El-Koddous as a managing director of the bank in June 2018.

For the full-year 2018, the bank reported a 33.22% year-on-year increase in net profits, logging EGP 2.002 billion from EGP 1.5 billion a year earlier.