Cairo - Mubasher: The net profit of National Bank of Kuwait – Egypt (NBK Egypt) amounted to EGP 402.76 million (KWD 7.9 million) in the first quarter (Q1) of 2020, compared to EGP 509.9 million (KWD 8.9 million) in the same period in 2019.

Total assets stood at EGP 64.22 billion in Q1-20 when compared to EGP 64.32 billion in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Moreover, net revenues declined to EGP 882.4 million by the end of March 2020 from EGP 923 million in Q1-19.

In 2019, the bank's net profits amounted to EGP 2.168 billion from EGP 2.002 billion in 2018, posting an 8.3% annual growth.