Cairo – Mubasher: The Central Bank of Egypt (CBE) reported a growth of 25.5% in profits during the fiscal year 2015/2016.
Net earnings reached EGP 29.9 million in the year ended 30 June, 2016 as compared to EGP 23.9 million in the previous year, according to a recent statement.
Public treasury’s share in profits amounted to EGP 24.9 million during FY 2015/2016 as compared to EGP 19.58 million in the previous fiscal year.
CBE said it will secure a provision of EGP 2 billion from net profits for increasing the capital to EGP 14 billion starting from the fiscal year 2016/2017.
Profits before taxes stood at EGP 39.8 billion in FY 2015/2015 as compared with EGP 33.6 billion in FY 2014/2015.
