Cairo – Mubasher: Eastern Co. signed a protocol of cooperation with the National Bank of Egypt (NBE) to automate its payment and collection processes.

The protocol is aimed at supporting financial inclusion efforts in Egypt, the tobacco manufacturer said in a bourse disclosure on Monday.

During the first quarter (Q1) of fiscal year 2020/2021, the company logged net profits of EGP 1.163 billion, up by 10% from EGP 1.059 billion in the year-ago period.