Cairo - Mubasher: The solid growth in National Bank of Kuwait - Egypt’s (NBK Egypt) profits affirms the bank’s leading position in the Egyptian market which enjoys promising growth opportunities and positive outlook, NBK Egypt’s deputy group CEO Shaikha Al-Bahar stated.
NBK Egypt’s profit in the first nine months of 2019 contributed third of the group’s profit from international branches, Al-Bahar added, according to a bank statement released on Saturday.
“We seek to transfer our FinTech expertise to the Egyptian market to capitalise on the promising investment opportunities and the exceptional growth witnessed in the region's most populous markets,” the top official commented.
NBK-Egypt operates 50 branches in various Egyptian governorates and cities including Cairo, Giza, Alexandria, Delta, Sinai, Red Sea, and Upper Egypt, the bank’s vice chairman and managing director Yasser El-Tayeb said.
NBK Egypt’s net profits grew to EGP 1.66 billion in the nine-month period ended 30 September, compared to EGP 1.46 billion in the year-ago period.