Cairo – Mubasher: Export Development Bank of Egypt (EBE) plans to achieve profits worth EGP 844 million during the 18-month period from 1 July 2020 to 31 December 2021, according to a bourse disclosure on Monday.

The targeted profits are lower than the EGP 1.52 billion earnings recorded during the period from 1 January 2019 to 30 June 2020.

EBE’s board has meanwhile given the green light to inaugurate five new branches until the end of this year.

During the first nine months of fiscal year (FY) 2020/2021, the bank registered a net profit of EGP 535.89 million, compared to EGP 978.29 million in the period from 1 July 2020 until 31 March 2021.