Cairo – Mubasher: The unaudited consolidated financial results of the Egyptian Gulf Bank (EG Bank) showed a 4% year-on-year (YoY) profit increase during the first quarter of 2020.

The bank achieved net profits of EGP 153.63 million in the January-March period, compared to EGP 148.2 million in the corresponding period a year earlier, according to a bourse disclosure on Wednesday.

Meanwhile, the bank’s interest income grew to EGP 1.917 billion in Q1-20 from EGP 1.84 billion in Q1-19.

As for standalone business, EG Bank reported net profits of EGP 156.56 million in the three-month period ended on 31 March, compared to EGP 145.78 million in the year-ago period.

For the full-year 2019, the bank’s net profits amounted to EGP 657.9 million, up from EGP 559.9 million in the previous year, including minority shareholders’ rights.