Cairo – Mubasher: Al Ahli Bank of Kuwait - Egypt (ABK - Egypt) reported a 54% year-on-year (YoY) increase in its net profits, logging EGP 354 million in the first half (H1) of 2020, the Middle East News Agency (MENA) reported on Wednesday.

The lender’s net operating profits surged by 44% YoY to EGP 631 million in the January-June period.

In addition, assets rose by 5.3% to EGP 37.6 billion in H1-20, compared to EGP 35.7 billion in H1-19.

Over the six-month period, the customer deposits grew by 5% to EGP 29.5 billion, while the loan portfolio went up by 9% to EGP 21.2 billion.