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EG Bank's standalone profit edges up in Q1-21

EG Bank's standalone profit edges up in Q1-21
The net interest income increased to EGP 662.25 million
Egyptian Gulf Bank
EGBE
-0.62% 0.32 -0.00

Cairo – Mubasher: The Egyptian Gulf Bank (EG Bank) reported standalone net profits of EGP 159.57 million in the first quarter (Q1) of 2021, up by 1.9% year-on-year (YoY) from EGP 156.56 million.

The net interest income increased to EGP 662.25 million in the January-March period, compared to EGP 610.76 million in the corresponding period a year earlier, the bank said in a bourse disclosure on Sunday.

On the other hand, the net income from commissions and fees retreated to EGP 68.33 million in Q1-21, compared to EGP 70.98 million in Q1-20.

In 2020, the lender posted net profits of EGP 627.11 million, down from EGP 659.53 million a year earlier.