Cairo – Mubasher: Export Development Bank of Egypt’s (EBE) consolidated unaudited financial results for fiscal year 2018/2019 recorded a 41% year-on-year profit increase on the back of higher revenues.

Net profits hiked to EGP 1.11 billion from July 2018 to last June, compared to EGP 790.3 million in the same period a year earlier, the bank said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The lender’s interest income rose to EGP 5.5 billion in FY18/19 from EGP 4.6 billion in FY17/18.

As for standalone business, the bank logged a profit of EGP 1.05 billion in the twelve-month period ended 30 June, compared to EGP 702.7 million in the year-ago period.

During the first nine months of FY18/19, EBE’s profit skyrocketed to EGP 879.9 million from EGP 560.41 million in the corresponding period of FY17/18.