Cairo – Mubasher: National Bank of Kuwait – Egypt (NBK Egypt) reported an 8.3% year-on-year profit growth during 2019.

The lender’s net profits amounted to EGP 2.168 billion last year from EGP 2.002 billion in 2018, according to a statement to the Egyptian Exchange (EGX) on Monday.

Net interest income rose to EGP 3.09 billion in 2019, compared to EGP 2.77 billion in the previous year.

In addition, the bank’s board of directors recommended a cash dividend distribution of EGP 1.25 per share for 2019’s earnings.

It is worth mentioning that during the first nine months of 2019, NBK Egypt logged EGP 1.66 billion in net profits, up from EGP 1.46 billion in the year-ago period.