Cairo – Mubasher: The National Bank of Egypt (NBE) increased its stake in the Export Development Bank of Egypt (EBank) and three other companies, according to bourse disclosures.

Through its NBE DIFC, NBE purchased 950,000 shares in the EGX-listed lender, making its shareholding stand at 9.80%.

NBE also raised its equity ownership in the Egyptian Satellites Company (NileSat) to 7.54%, equivalent to 2.81  million of the company’s capital.

The shares of NBE in e-finance for Digital and Financial Investments amounted to 123.63 million shares, representing 6.69% of the latter’s share capital.

Meanwhile, the national bank’s stake in Fawry for Banking Technology and Electronic Payments rose to 6.05%, equivalent to 206.22 million shares.

In the first quarter (Q1) of 2024, Fawry logged consolidated net profit after tax valued at EGP 333.71 million, while NileSat recorded 14.66% lower net profit after tax at $6.38 million.

As of 31 March 2024, the consolidated net profit of e-finance amounted to EGP 462.50 million, whereas EBank’s consolidated net profits reached EGP 1.09 billion.